A special Prevention of Money Laundering Act (PMLA) court in Mumbai on Tuesday, 12 June, issued non-bailable warrants against Nirav Modi and his family members over the money-laundering charges in the Punjab National Bank scam, reported ANI.
On Monday, 11 June, top officials said that they had managed to locate the elusive diamantaire in the United Kingdom after a confirmation from UK authorities. Modi, along with his uncle Mehul Choksi fled the country in the first week of January 2018, days before the fraud was detected by PNB.
Modi’s whereabouts had been an issue of great concern for the Indian government, with prior reports placing him in the United Arab Emirates, Hong Kong and Singapore.
Choksi and Modi have both refused to join the investigation despite being sent official mails sent by the CBI, citing business engagements and health issues. Both have also denied any wrongdoing.
Modi, along with his wife, brother and Choksi have been booked by the CBI for cheating PNB. Both Modi and Choksi have been booked in two cases each in relation to the fraud.
The CBI, in its chargesheets filed on 14 May, had alleged that Nirav Modi, through his companies, siphoned off funds to the tune of Rs 6,498.20 crore using fraudulent LoUs issued from PNB's Brady House branch in Mumbai. Choksi allegedly swindled Rs 7080.86 crore, making it possibly the biggest banking scam in the country, it alleged.
(With inputs from PTI.)
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