IT&Software

SFIO questions PNB chief Sunil Mehta in Nirav Modi case

SFIO questions PNB chief Sunil Mehta in Nirav Modi case

"He was produced before a court which sent him to police custody till March 17", a CBI official told IANS in Delhi.

The PNB said that cases of circular transactions between Nirav Modi-promoted partnership firms Solar Exports, Stellar diamonds and Diamond R U.S. and Nirav Modi-promoted Firestar Group of companies - Firestar International Ltd (FIL) and Firestar Diamonds International Pvt Ltd (FDIPL) - came to its notice.

When contacted, neither ICICI Bank nor Axis Bank was willing to comment.

The agency has also summoned senior executives of banks other than ICICI Bank and Axis Bank which are part of the 31-bank consortium.

Choksi and Modi are accused of defrauding the PNB of Rs. 12,600 crore, with Rs. 1,300 crore being added to the fraud total February 26.

The third arrested person - Sanjay Rambhia, a partner in CA firm Sampat and Mehta of Mumbai - was an internal auditor of Nirav Modi's companies, while the fourth - Aniyath Shiv Raman Nair - was then Director of Gili India Ltd.

Modi, his family and Choksi left the country in early January.

It said the Firestar Group of companies were sanctioned credit limits by the bank under consortium. "So, when all the agencies were alerted, how were these people allowed to escape from the country, from the law of the land?", he asked.

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Advocate Vijay Aggrawal, appearing for the firm, has sought quashing of the ED action of taking away the movable property and depositing the same with the PNB bank.

Both Choksi and Modi have denied the allegations and lawyers for the two key accused PNB employees in the case have also said they are innocent.

The court will hear the plea March 7. "They were personally known to the Prime Minister", he said.

The party said the governments of Modi and Maharashtra Chief Minister Devendra Fadnavis appear to have given a one-way-ticket to cheat and scoot. Last month, the authorities had interrogated the PNB management, including former chairperson Usha Ananthasubramanian.

Citing the RTI reply, Surjewala said in 2015, the fraud totaled Rs. 5,560.66 crore; in 2016, Rs. 4,273.87 crore and in 2017, the fraud totaled Rs. 9,838.66 crore. The bank said it is co-operating with the investigating agencies.

Celebrated jeweler Nirav Modi and his uncle Mehul Choksi are accused in the multi-crore scam that has rattled the country and economy.

"Most of these documents are not yet recovered".

Nirav Modi will be prosecuted for wrong declaration of value and quantity of the imported Cut and Polished Diamonds, Pearls to Customs and diversion of the Duty Exempted goods to the domestic tariff area clandestinely, the report had said.


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