PNB fraud: CBI questions top Gitanjali official

PNB fraud: CBI questions top Gitanjali official

PNB fraud: CBI questions top Gitanjali official

In a related development, the Enforcement Directorate, which is also investigating the Rs. 12,600-crore PNB fraud case, has chose to send Letters Rogatory to over 15 countries against diamond jeweler Nirav Modi and Mehul Choksi.

He said that on February 16, he received an e-mail from the passport office which stated that his travel document has been suspended due to the reason "security threat to India".

The absconding businessmen said "my persisting health problem" won't let him travel for another four to six months.

Choksi added that since his passport stands suspended under Section 10 (3)(c) of the Passport Act, it's not possible for him to come back.

"Earlier, we froze shares and mutual funds of Modi and also seized his nine luxury cars include Porsche Panamera, Rolls Royce Ghost and Mercedes Benz", said the official. He also fears that he might not be allowed to undergo treatment in a private hospital.

Choksi has written that he is anxious about his health and fears that he will not get proper treatment if he gets arrested. In response to Choksi's letter, CBI said that the accused was obligated to cooperate with the investigation.

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The accused officials of PNB did not enter the instructions for these LoUs and in their internal software to avoid scrutiny. With Axis Bank and ICICI Bank complying with the SFIO summons, other lenders are likely to follow the suit.

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He said the CBI had written to Nirav Modi and Choksi first on February 19 for an appearance on February 20.

THE CBI on Tuesday arrested the Vice President of Banking Operations of Mehul Choksi's Gitanjali Group in connection with its ongoing probe into the multi-crore Punjab National Bank (PNB) fraud case, officials said. Choksi has accused Indian political parties using the issue to "glorify their own interest".

Two holding companies and Modi personally are guaranteeing an existing revolving credit facility with Israel Discount Bank, according to a filing.

On March 6, Modi's firm, Firestar Diamond, moved the Delhi High Court against the ED's proceedings against the company.

Jaitley's statement comes in the wake of a Rs 12,600 crore fraud in the state-run PNB allegedly by accused diamantaire Nirav Modi and his uncle Mehul Choksi. Nirav Modi, who is the chief executive officer of the parent company of the jeweler Firestar Diamond Inc, has been kept under investigation for a fraud of $2 billion in India.

Meanwhile, the PNB filed a second complaint with the CBI on February 13.

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