Illegal practice to issue LoUs in PNB begun a decade ago!! NiMo’s luxury cars seized

(G.N.S) Dt. 22 New Delhi The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008, exactly a decade ago, and continued till these were discovered in January this year,