The probe by the Enforcement Directorate has revealed that an additional Rs 3,000 crore was lent by 17 banks to many companies belonging to Nirav Modi. Even as the raids continued, the ED registered another case against Nirav and his uncle's company, Gitanjali Gems.
Further the ED has also directed Nirav's companies in New York, London, Macau and Beijing not to transact any business during the pendency of the probe.
Meanwhile the CBI registered the second FIR in the PNB scam. The CBI also conducted raids on 26 locations in six States on various properties of Gitanjali group of companies owned by Mehul Choksi, for allegedly causing a loss of Rs 4,887 crore to the PNB. The agency has named three companies in the FIR filed on Friday. They are Gitanjali Gems, Gili India and Nakshatra Brands Limited.
The Income Tax Department too attached 29 properties and 105 bank accounts of Nirav, his family and companies. More attachments in the case are on the anvil. Further notices have also been issued and a prosecution in this case has been filed under the IT Act, the hearing of which will be held on February 27.
The RBI meanwhile clarified that it has not given any directions to the PNB regarding honouring Letter of Undertaking to other banks in the cases relating to Nirav Modi. RBI said it has already undertaken an assessment of control systems at scam-hit the PNB and will take "appropriate supervisory action". In a statement, the central bank said the fraud in the PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal controls.
On the advice of the ED, the passport issuing authority has suspended the validity of passports of Nirav and Choksi with immediate effect for a period of four weeks under Section 10(A) of the Passports Act 1967.
The Ministry for Corporate Affairs on the other hand has said that it had identified 150 shell companies for investigation.