Diamond trader Nirav Modim who has been accused of defrauding the Punjab National Bank, replied to CBI letter, saying he won't be able to join the probe and that he has run his business. The CBI had asked Nirav Modi to mandatory join for the probe by next week.
Trouble does not seem to stop for diamond trader Nirav Modi, who is a main accused in the Punjab National Bank (PNB) scam, which allegedly would now somewhere around $2 billion.
While the probing agencies are doing the constant rounds of interrogating to unearthed one of the biggest scams in the history of PSUs. It has been reported that the Enforcement Directorate (ED) moving a court for a non-bailable warrant (NBW) and another court issuing summons to Nirav Modi in a tax evasion case.
Nirav Modi has been accused, along with his Choksi, of defrauding the Punjab National Bank of Rs. 12,600 crore, with Rs. 1,300 being added to the fraud kitty on Monday night.
Earlier, the amount stated to have been defrauded by Modi and Choksi companies was Rs. 11,300 crore.
The CBI had filed the first FIR in the scam on February 14 against Nirav Modi, his wife Ami, brother Nishal, uncle Choksi and his firms Diamond R US, Solar Exports and Stellar Diamond.
Nirav Modi, his family and Choksi left the country in early January. The FIR mentions fraud of around Rs. 6,400 crores.
The CBI filed the second FIR on February 15 for Rs. 4,886.72 crore fraud against the Gitanjali group headed by Choksi.
The agency source said the CBI had written to the Chief Vigilance Officers of five banks to share details of money credited to Nostro accounts of PNB on receiving Letters of Undertaking and Foreign Letters of Credit, which were then withdrawn by Nirav and Choksi's group as buyer's credit.
Till date, 12 persons have been arrested in the case. The ED has attached properties valued by them at Rs. 6,000 crores.