The Royal Courts of Justice in London has denied <a href="https://www.wionews.com/world/nirav-modi-moves-royal-court-of-justice-in-london-to-seek-bail-plea-226193">bail to fugitive diamond merchant Nirav Modi</a>. This was his fourth bail application which has been quashed.

Nirav Modi's previous applications for bail were rejected thrice in the lower court after which he had moved the Royal Court of Justice in London which is the higher court.

Nirav, 48, has been lodged at Wandsworth prison in south-west London since his third attempt at seeking bail was rejected by chief magistrate Emma Arbuthnot at the last hearing at Westminster Magistrates' Court last month.

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This was <a href="https://twitter.com/hashtag/NiravModi?src=hash&amp;ref_src=twsrc%5Etfw">#NiravModi</a>'s fourth bail application at the UK court which was refused. <a href="https://t.co/Jxv8rSK8Q0">https://t.co/Jxv8rSK8Q0</a>
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Enforcement Directorate had moved an extradition request to the UK for the diamond merchant in March after he was spotted walking in a London street. Nirav Modi had defrauded Punjab and National Bank (PNB) in Mumbai's Brady House branch of Rs 11,400-crore.&nbsp;

The Interpol had earlier issued a Red Corner Notice (RCN) against Nirav last year.

Nirav Modi was arrested by uniformed Scotland Yard officers on an extradition warrant from a Metro Bank branch in central London as he attempted to open a new bank account on March 19.

Previously, he was denied bail at three previous attempts at Westminster Magistrates' Court in London, as the judge ruled there was "substantial risk" that he would fail to surrender and deemed the bail security offered as insufficient, news agency PTI reported.&nbsp;

Modi, who has remained behind bars in judicial custody since his arrest in March, had the automatic right to file an application in the higher court and did not require permission to appeal.

(With inputs from &nbsp;agencies)&nbsp; 
&nbsp; 
&nbsp;

The Royal Courts of Justice in London has denied bail to fugitive diamond merchant Nirav Modi. This was his fourth bail application which has been quashed. Nirav Modi's previous applications for bail were rejected thrice in the lower court after which he had moved the Royal Court of Justice in London which is the higher court.

The Royal Courts of Justice in London has denied bail to fugitive diamond merchant Nirav Modi. This was his fourth bail application which has been quashed. Nirav Modi's previous applications for bail were rejected thrice in the lower court after which he had moved the Royal Court of Justice in London which is the higher court. Nirav, 48, has been lodged at Wandsworth prison in south-west London since his third attempt at seeking bail was rejected by chief magistrate Emma Arbuthnot at the last hearing at Westminster Magistrates' Court last month. This was #NiravModi's fourth bail application at the UK court which was refused. https://t.co/Jxv8rSK8Q0 — ANI (@ANI) June 12, 2019 × Enforcement Directorate had moved an extradition request to the UK for the diamond merchant in March after he was spotted walking in a London street. Nirav Modi had defrauded Punjab and National Bank (PNB) in Mumbai's Brady House branch of Rs 11,400-crore. The Interpol had earlier issued a Red Corner Notice (RCN) against Nirav last year. Nirav Modi was arrested by uniformed Scotland Yard officers on an extradition warrant from a Metro Bank branch in central London as he attempted to open a new bank account on March 19. Previously, he was denied bail at three previous attempts at Westminster Magistrates' Court in London, as the judge ruled there was "substantial risk" that he would fail to surrender and deemed the bail security offered as insufficient, news agency PTI reported. Modi, who has remained behind bars in judicial custody since his arrest in March, had the automatic right to file an application in the higher court and did not require permission to appeal. (With inputs from agencies)

The Royal Courts of Justice in London denies bail to Nirav Modi 

A joint team of Central Bureau of Investigation and Enforcement Directorate officials arrived in London on Thursday for fugitive diamantaire <a href="https://www.wionews.com/world/vijay-mallya-appeal-moves-forward-as-nirav-modi-set-for-uk-court-hearing-206323">Nirav Modi's bail hearing</a>, which is scheduled on Friday in Westminster Magistrate court.

"Agencies have enough evidence against Nirav Modi, the (CPS) Crown Prosecution Service in London is likely to oppose Nirav Modi's bail application on March 29," said one of the joint directors part of the joint ED/CBI team that arrived in London today.

The combined agency team that travelled from Delhi is spearheaded by the Joint Director and rank officers from Enforcement Directorate and Central Bureau of Investigation, who will be present in court during Nirav Modi's hearing.&nbsp;

The judge who will be presiding over Nirav Modi's case will be hearing a case built by Indian authorities for the extradition of Modi, wanted in India for fraud and money laundering of close to $2 billion.&nbsp;

The 48-year-old Modi has been lodged in HMP Wandsworth prison since last Wednesday after he was arrested by Scotland Yard while trying to open a bank account in Central London near the Holborn metro station.&nbsp;

A judge subsequently denied Modi's bail plea.

"Officers of the agency will be brief and provide all legal assistance before the (CPS) Crown Prosecution Service... latest charge sheet copy, non-bailable warrant copy, properties attachment list and investigation documents of Nirav and his wife Ami Modi have already been discussed," revealed the source who wished to remain anonymous due to proximity to the legal case.

The Crown Prosecution Service will be aided by the joint Indian team of CBI and ED officials during Friday's hearing on Nirav Modi's bail plea.

A joint team of Central Bureau of Investigation and Enforcement Directorate officials arrived in London on Thursday for fugitive diamantaire Nirav Modi's bail hearing, which is scheduled on Friday in Westminster Magistrate court.

A joint team of Central Bureau of Investigation and Enforcement Directorate officials arrived in London on Thursday for fugitive diamantaire Nirav Modi's bail hearing, which is scheduled on Friday in Westminster Magistrate court. "Agencies have enough evidence against Nirav Modi, the (CPS) Crown Prosecution Service in London is likely to oppose Nirav Modi's bail application on March 29," said one of the joint directors part of the joint ED/CBI team that arrived in London today. The combined agency team that travelled from Delhi is spearheaded by the Joint Director and rank officers from Enforcement Directorate and Central Bureau of Investigation, who will be present in court during Nirav Modi's hearing. The judge who will be presiding over Nirav Modi's case will be hearing a case built by Indian authorities for the extradition of Modi, wanted in India for fraud and money laundering of close to $2 billion. The 48-year-old Modi has been lodged in HMP Wandsworth prison since last Wednesday after he was arrested by Scotland Yard while trying to open a bank account in Central London near the Holborn metro station. A judge subsequently denied Modi's bail plea. "Officers of the agency will be brief and provide all legal assistance before the (CPS) Crown Prosecution Service... latest charge sheet copy, non-bailable warrant copy, properties attachment list and investigation documents of Nirav and his wife Ami Modi have already been discussed," revealed the source who wished to remain anonymous due to proximity to the legal case. The Crown Prosecution Service will be aided by the joint Indian team of CBI and ED officials during Friday's hearing on Nirav Modi's bail plea.

Joint CBI, ED team to be present during fugitive Nirav Modi's bail plea hearing today

Nirav Modi to appear before Westminister Magistrates Court today

The CBI will send a team of its officials for the hearing in the loan default case against businessman Nirav Modi on March 29 in London.

Modi was arrested by the Scotland Yard in London last week in the connection with the case.&nbsp;

A day after the arrest, he was sent to jail by a London court till March 29.

Modi sought bail and offered 5 lakh pounds but the court rejected it, saying that there was substantial ground to believe that the businessman may not surrender.&nbsp;

His counsel had told the court that he has provided documents to the police including travel documents. His lawyer also showed employment pass, Hong Kong ID card, other bank cards to bring home his point.

The fugitive diamond merchant is wanted for his alleged involvement in Rs 13,000 crore Punjab National Bank (PNB) loan default case.

A non-bailable warrant (NBW) has also been issued against Ami Modi, wife of Nirav, under the Prevention of Money Laundering Act (PMLA), Enforcement Directorate (ED) sources had earlier said.&nbsp;

The CBI will send a team of its officials for the hearing in the loan default case against businessman Nirav Modi on March 29 in London. Modi was arrested by the Scotland Yard in London last week in the connection with the case.

The CBI will send a team of its officials for the hearing in the loan default case against businessman Nirav Modi on March 29 in London. Modi was arrested by the Scotland Yard in London last week in the connection with the case. A day after the arrest, he was sent to jail by a London court till March 29. Modi sought bail and offered 5 lakh pounds but the court rejected it, saying that there was substantial ground to believe that the businessman may not surrender. His counsel had told the court that he has provided documents to the police including travel documents. His lawyer also showed employment pass, Hong Kong ID card, other bank cards to bring home his point. The fugitive diamond merchant is wanted for his alleged involvement in Rs 13,000 crore Punjab National Bank (PNB) loan default case. A non-bailable warrant (NBW) has also been issued against Ami Modi, wife of Nirav, under the Prevention of Money Laundering Act (PMLA), Enforcement Directorate (ED) sources had earlier said.

CBI team to attend Nirav Modi's case hearing in London on March 29

<a href="https://www.wionews.com/world/new-zealand-bans-assault-semi-automatic-rifles-after-mosque-massacre-leaves-50-dead-204618">New Zealand bans assault, semi-automatic rifles after mosque massacre leaves 50 dead</a>

New Zealand has banned assault rifles, semi-automatic rifles, high-capacity magazines, and parts that convert guns into military-style semi-automatic (MSSA) rifles. &nbsp;

<a href="https://www.wionews.com/world/pnb-scam-how-a-bank-clerk-recognised-nirav-modi-and-informed-london-police-204576">PNB scam: How a bank clerk recognised Nirav Modi and called London police</a>

London's Westminster court on Wednesday remanded&nbsp;Punjab National Bank (PNB) scam&nbsp;accused Nirav Modi, 48, in&nbsp;custody.&nbsp;It was the first time the fugitive businessman had been in court.

<a href="https://www.wionews.com/world/bullet-riddled-new-zealand-mosque-to-reopen-for-friday-prayers-more-victims-buried-204613">Bullet-riddled New Zealand mosque to reopen for Friday prayers</a>

The bullet-riddled Al Noor mosque in Christchurch was being repaired, painted and cleaned ahead of Friday prayers, as grieving&nbsp;families buried more victimsof&nbsp;New Zealand`s worst mass shooting.

<a href="https://www.wionews.com/world/islamic-state-will-be-wiped-off-map-within-hours-says-trump-204614">Islamic State will be wiped off the map within hours, says Trump</a>

A bullish US President Donald Trump predicted Wednesday that the Islamic State group would be&nbsp;wiped off the map within hours, as he unfurled printouts showing the jihadists' shrinking presence in Iraq and Syria.

<a href="http://cms.wionews.com/india-news/act-against-terrorists-another-terror-attack-in-india-will-be-extremely-problematic-us-to-pakistan-204621">Act against terrorists, another terror attack in India will be extremely problematic: US to Pakistan&nbsp;</a>

The United States has asked Pakistan to take sustained, verifiable and irreversible action against the perpetrators of terrorism, while warning the country that another terror attack on India will prove to be "extremely problematic".

New Zealand bans assault, semi-automatic rifles after mosque massacre leaves 50 dead New Zealand has banned assault rifles, semi-automatic rifles, high-capacity magazines, and parts that convert guns into military-style semi-automatic (MSSA) rifles.

New Zealand bans assault, semi-automatic rifles after mosque massacre leaves 50 dead New Zealand has banned assault rifles, semi-automatic rifles, high-capacity magazines, and parts that convert guns into military-style semi-automatic (MSSA) rifles. PNB scam: How a bank clerk recognised Nirav Modi and called London police London's Westminster court on Wednesday remanded Punjab National Bank (PNB) scam accused Nirav Modi, 48, in custody. It was the first time the fugitive businessman had been in court. Bullet-riddled New Zealand mosque to reopen for Friday prayers The bullet-riddled Al Noor mosque in Christchurch was being repaired, painted and cleaned ahead of Friday prayers, as grieving families buried more victimsof New Zealand`s worst mass shooting. Islamic State will be wiped off the map within hours, says Trump A bullish US President Donald Trump predicted Wednesday that the Islamic State group would be wiped off the map within hours, as he unfurled printouts showing the jihadists' shrinking presence in Iraq and Syria. Act against terrorists, another terror attack in India will be extremely problematic: US to Pakistan The United States has asked Pakistan to take sustained, verifiable and irreversible action against the perpetrators of terrorism, while warning the country that another terror attack on India will prove to be "extremely problematic".

News brief: Big stories of the day

Fugitive diamond merchant Nirav Modi arrested in London

The Nirav Modi Case: A Brief Explainer

PNB scam accused Nirav Modi got tracked by reporters in London

New video of absconding businessman Nirav Modi emerges, refuses to answer questions

The ED on Tuesday said it was "proactively" pursuing all issues pertaining to the extradition of Nirav Modi, the main accused in the USD 2 billion PNB scam, from the UK as it dismissed media reports that Indian agencies "did not respond" in time when British investigators extended help.

The central agency, which is probing Nirav Modi under the criminal sections of the anti-money laundering law, issued a two-page clarification, saying the media reports in this context "have been distorted with speculative writing and wrong conclusions have been drawn".

A British daily recently published a report and video showing Modi walking on the streets of London and said the fugitive diamantaire was living in a swanky 8-million pounds apartment in the city's West End and that he was involved in new diamond business.

Calling the reports of inaction on part of the agency "insinuating", the Enforcement Directorate (ED) said, "It has been wrongly reported in the news item that the UK SFO had confirmed to Indian authorities by March 2018 that Nirav Modi was in the UK.

"In this connection, it is submitted that no such formal or informal communication was received by the ED from UK authorities in March 2018 or at a later date, informing that Nirav Modi was in the UK."

The ED added that the National Central Bureau of Manchester, the nodal agency of the UK for dealing with Interpol notices and cooperating with other countries, had instead asked Indian agencies to "provide it" with intelligence inputs that suggested Nirav Modi was in the UK.

It said the UK government's "consistent stand" had been that a non-bailable warrant (NBW) against an accused could only be executed through an "extradition request" and not through letters rogatory (LR) or the Mutual Legal Assistance Treaty (MLAT).

Hence, it said, the extradition request for Nirav Modi could only be sent after a charge sheet was filed against him, which was done by the agency in May last year.

"An extradition request cannot be sent at the stage of the investigation. Accordingly, upon initiation of investigations by the ED under the Prevention of Money Laundering Act in February last year against Nirav Modi and others, the first NBW was issued on March 5, 2018, and that was not acted upon by the UK government," the agency said.

The ED obtained a fresh NBW against Nirav Modi from a Mumbai court after filing the charge sheet and sent it to the Interpol, which notified the "red warrant" for arrest against the fugitive diamantaire on June 29 last year, and subsequently, a fresh request for extradition was sent to the UK government, the agency said.

It added that it had also sent a supplementary MLAT request in October last year for execution of an order of attachment of the UK-based assets of Nirav Modi.

"In response to these MLAT requests, the UK authorities had raised queries from time-to-time, which were promptly examined, and detailed replies were sent by the ED. These MLAT requests are yet to be executed by the UK authorities," the central probe agency said.

"It is reiterated that the ED has been proactively following up all the issues relating to the Nirav Modi case with authorities of various countries, including the UK. The directorate has also been making necessary efforts for successful extradition of Nirav Modi," it said.

The agency said the latest media reports reflected that the "understanding regarding the legal issues is contrary to the facts and established international protocols and procedures".

"This kind of misreporting and speculative news may create a wrong impression to the public at large," it said.

On March 9, the ED had said the UK home secretary had recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him.&nbsp;

The ED on Tuesday said it was "proactively" pursuing all issues pertaining to the extradition of Nirav Modi, the main accused in the USD 2 billion PNB scam, from the UK as it dismissed media reports that Indian agencies "did not respond" in time when British investigators extended help.

The ED on Tuesday said it was "proactively" pursuing all issues pertaining to the extradition of Nirav Modi, the main accused in the USD 2 billion PNB scam, from the UK as it dismissed media reports that Indian agencies "did not respond" in time when British investigators extended help. The central agency, which is probing Nirav Modi under the criminal sections of the anti-money laundering law, issued a two-page clarification, saying the media reports in this context "have been distorted with speculative writing and wrong conclusions have been drawn". A British daily recently published a report and video showing Modi walking on the streets of London and said the fugitive diamantaire was living in a swanky 8-million pounds apartment in the city's West End and that he was involved in new diamond business. Calling the reports of inaction on part of the agency "insinuating", the Enforcement Directorate (ED) said, "It has been wrongly reported in the news item that the UK SFO had confirmed to Indian authorities by March 2018 that Nirav Modi was in the UK. "In this connection, it is submitted that no such formal or informal communication was received by the ED from UK authorities in March 2018 or at a later date, informing that Nirav Modi was in the UK." The ED added that the National Central Bureau of Manchester, the nodal agency of the UK for dealing with Interpol notices and cooperating with other countries, had instead asked Indian agencies to "provide it" with intelligence inputs that suggested Nirav Modi was in the UK. It said the UK government's "consistent stand" had been that a non-bailable warrant (NBW) against an accused could only be executed through an "extradition request" and not through letters rogatory (LR) or the Mutual Legal Assistance Treaty (MLAT). Hence, it said, the extradition request for Nirav Modi could only be sent after a charge sheet was filed against him, which was done by the agency in May last year. "An extradition request cannot be sent at the stage of the investigation. Accordingly, upon initiation of investigations by the ED under the Prevention of Money Laundering Act in February last year against Nirav Modi and others, the first NBW was issued on March 5, 2018, and that was not acted upon by the UK government," the agency said. The ED obtained a fresh NBW against Nirav Modi from a Mumbai court after filing the charge sheet and sent it to the Interpol, which notified the "red warrant" for arrest against the fugitive diamantaire on June 29 last year, and subsequently, a fresh request for extradition was sent to the UK government, the agency said. It added that it had also sent a supplementary MLAT request in October last year for execution of an order of attachment of the UK-based assets of Nirav Modi. "In response to these MLAT requests, the UK authorities had raised queries from time-to-time, which were promptly examined, and detailed replies were sent by the ED. These MLAT requests are yet to be executed by the UK authorities," the central probe agency said. "It is reiterated that the ED has been proactively following up all the issues relating to the Nirav Modi case with authorities of various countries, including the UK. The directorate has also been making necessary efforts for successful extradition of Nirav Modi," it said. The agency said the latest media reports reflected that the "understanding regarding the legal issues is contrary to the facts and established international protocols and procedures". "This kind of misreporting and speculative news may create a wrong impression to the public at large," it said. On March 9, the ED had said the UK home secretary had recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him.

ED refutes allegation of inaction, says it's taking proactive steps to get Nirav Modi extradited

The Enforcement Directorate has filed a fresh charge sheet against PNB scam accused Nirav Modi under the anti-money laundering law, officials said Monday.

They said the charge sheet or the prosecution complaint has been filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.

This is a supplementary charge sheet against the diamantaire and few others and the agency has recorded additional evidence gathered in the case and attachments made, they said.

Further details about the contents of the charge sheet are awaited.

The development comes two days after a British daily reported that Nirav Modi, accused in the $2-billion Punjab National Bank (PNB) scam, is living in a swanky 8-million pound apartment in London's West End and is now involved in new diamond business.

The ED had said on March 9 that the United Kingdom's home secretary has recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him.

The Enforcement Directorate (ED) had filed the first charge sheet in this case in May last year.

The agency and the CBI are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed last year.

Nirav Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost 17,000 pounds a month, The Telegraph had reported.

It has also attached his assets worth Rs 1,873.08 crore under the PMLA and has seized assets linked to him and his family worth Rs 489.75 crore.&nbsp;

The Enforcement Directorate has filed a fresh charge sheet against PNB scam accused Nirav Modi under the anti-money laundering law, officials said Monday. They said the charge sheet or the prosecution complaint has been filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.

The Enforcement Directorate has filed a fresh charge sheet against PNB scam accused Nirav Modi under the anti-money laundering law, officials said Monday. They said the charge sheet or the prosecution complaint has been filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai. This is a supplementary charge sheet against the diamantaire and few others and the agency has recorded additional evidence gathered in the case and attachments made, they said. Further details about the contents of the charge sheet are awaited. The development comes two days after a British daily reported that Nirav Modi, accused in the $2-billion Punjab National Bank (PNB) scam, is living in a swanky 8-million pound apartment in London's West End and is now involved in new diamond business. The ED had said on March 9 that the United Kingdom's home secretary has recently referred India's request for extraditing the tainted businessman to a court for initiating legal proceedings against him. The Enforcement Directorate (ED) had filed the first charge sheet in this case in May last year. The agency and the CBI are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed last year. Nirav Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost 17,000 pounds a month, The Telegraph had reported. It has also attached his assets worth Rs 1,873.08 crore under the PMLA and has seized assets linked to him and his family worth Rs 489.75 crore.

PNB scam: Enforcement Directorate files fresh charge sheet against Nirav Modi

The fugitive Indian businessman Mehul Choksi has surrendered his Indian passport to the Antiguan government, news reports said Monday morning.&nbsp;

Choksi is one of the main accused — the other being his nephew Nirav Modi — in the over Rs 13,000 crore Punjab and National Bank scam.&nbsp;

Choksi fled to Antigua in January 2018 and has been living there since.&nbsp;

He had in December last year told a Mumbai court that he cannot return to India for questioning.

Choksi said&nbsp;<a href="http://www.wionews.com/india-news/cant-travel-41-hours-to-reach-india-mehul-choksi-186331">his "poor health" would not allow him to undertake the 41-hour flight</a> from Antigua to India. He had however consented to being questioned via&nbsp;video&nbsp;conferencing.&nbsp;

Prime Minister Narendra Modi had said on January 1 this year that defaulters will not be spared and that his government will bring them back to India.&nbsp;

“Those who fled during this government, they will be brought back, today or tomorrow. Diplomatic channels, legal courses, and seizure of properties being done. Those who have stolen India’s money, they will have to compensate for each and every penny,'' Modi said.&nbsp;

News reports said Monday that Choksi had deposited his passport — with the number Z3396732 — and the mandatory $177 required for the giving up Indian citizenship with the Antiguan authorities.&nbsp;

Choksi, it is suspected, is looking to avoid being extradited to India by taking up Antiguan citizenship.&nbsp;A hearing on the issue is scheduled for February 22 in Antigua.&nbsp;

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Union Home Minister Rajnath Singh on <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a> : Our govt has passed Fugitive Economic Offenders bill. Those who have fled, will be brought back. It might take some time but they all will be brought back. <a href="https://t.co/w3IinkbmlC">pic.twitter.com/w3IinkbmlC</a>
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Home Minister Rajnath Singh reacted to the alleged development, telling ANI that: "Our government has passed Fugitive Economic Offenders bill. Those who have fled will be brought back. It might take some time but they all will be brought back."&nbsp;

The fugitive Indian businessman Mehul Choksi has surrendered his Indian passport to the Antiguan government, news reports said Monday morning. Choksi is one of the main accused — the other being his nephew Nirav Modi — in the over Rs 13,000 crore Punjab and National Bank scam.

The fugitive Indian businessman Mehul Choksi has surrendered his Indian passport to the Antiguan government, news reports said Monday morning. Choksi is one of the main accused — the other being his nephew Nirav Modi — in the over Rs 13,000 crore Punjab and National Bank scam. Choksi fled to Antigua in January 2018 and has been living there since. He had in December last year told a Mumbai court that he cannot return to India for questioning. Choksi said his "poor health" would not allow him to undertake the 41-hour flight from Antigua to India. He had however consented to being questioned via video conferencing. Prime Minister Narendra Modi had said on January 1 this year that defaulters will not be spared and that his government will bring them back to India. “Those who fled during this government, they will be brought back, today or tomorrow. Diplomatic channels, legal courses, and seizure of properties being done. Those who have stolen India’s money, they will have to compensate for each and every penny,'' Modi said. News reports said Monday that Choksi had deposited his passport — with the number Z3396732 — and the mandatory $177 required for the giving up Indian citizenship with the Antiguan authorities. Choksi, it is suspected, is looking to avoid being extradited to India by taking up Antiguan citizenship. A hearing on the issue is scheduled for February 22 in Antigua. Union Home Minister Rajnath Singh on #MehulChoksi : Our govt has passed Fugitive Economic Offenders bill. Those who have fled, will be brought back. It might take some time but they all will be brought back. pic.twitter.com/w3IinkbmlC — ANI (@ANI) January 21, 2019 × Home Minister Rajnath Singh reacted to the alleged development, telling ANI that: "Our government has passed Fugitive Economic Offenders bill. Those who have fled will be brought back. It might take some time but they all will be brought back."

Trying to avoid extradition, PNB scam-accused Mehul Choksi surrenders Indian passport in Antigua: Reports

The Enforcement Directorate (ED) Friday said it has attached a factory in Thailand worth over Rs 13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi, in connection with the alleged USD 2 billion PNB fraud case.

The agency said it has issued a provisional order for attachment, under the PMLA, of the factory premise owned by Abbeycrest (Thailand) Limited which is a "group company" of the Gitanjali group of companies.

"Investigations under PMLA revealed that Abbeycrest (Thailand) Limited is the beneficiary of the LoUs (Letters of Undertaking) issued fraudulently and unauthorisedly from the PNB to the tune of Rs 92.3 crore.&nbsp;

"During the probe, this overseas property has been identified and after gathering concrete evidence of ownership it has been attached," the ED said in a statement.

The value of the property is Rs 13.14 crore, it added. The ED is probing this case under the Prevention of Money Laundering Act (PMLA).

Officials said ED investigators will soon get issued Letters Rogatories (judicial requests) for the legal formalisation of the attachment of the foreign-based asset.&nbsp; 
Choksi, his nephew and diamond jeweller Nirav Modi, and others are being probed under various criminal laws after the fraud came to light, following a complaint from the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of some of its employees.

Both Choksi and Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI). Choksi was last reported to be in the Caribbean nation of Antigua and Barbuda.

"With this attachment, the value of attachment/seizure in the PNB scam is to the tune of Rs 4,765 crore (approx). Further investigation is in the process," the ED said.&nbsp;

The Enforcement Directorate (ED) Friday said it has attached a factory in Thailand worth over Rs 13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi, in connection with the alleged USD 2 billion PNB fraud case.

The Enforcement Directorate (ED) Friday said it has attached a factory in Thailand worth over Rs 13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi, in connection with the alleged USD 2 billion PNB fraud case. The agency said it has issued a provisional order for attachment, under the PMLA, of the factory premise owned by Abbeycrest (Thailand) Limited which is a "group company" of the Gitanjali group of companies. "Investigations under PMLA revealed that Abbeycrest (Thailand) Limited is the beneficiary of the LoUs (Letters of Undertaking) issued fraudulently and unauthorisedly from the PNB to the tune of Rs 92.3 crore. "During the probe, this overseas property has been identified and after gathering concrete evidence of ownership it has been attached," the ED said in a statement. The value of the property is Rs 13.14 crore, it added. The ED is probing this case under the Prevention of Money Laundering Act (PMLA). Officials said ED investigators will soon get issued Letters Rogatories (judicial requests) for the legal formalisation of the attachment of the foreign-based asset. Choksi, his nephew and diamond jeweller Nirav Modi, and others are being probed under various criminal laws after the fraud came to light, following a complaint from the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore, with the purported involvement of some of its employees. Both Choksi and Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI). Choksi was last reported to be in the Caribbean nation of Antigua and Barbuda. "With this attachment, the value of attachment/seizure in the PNB scam is to the tune of Rs 4,765 crore (approx). Further investigation is in the process," the ED said.

PNB scam: ED attaches Thailand factory of Choksi's group company

<a href="http://www.wionews.com/india-news/nirav-modi-fugitive-diamantaire-and-indias-most-wanted-184963">Nirav Modi</a>, prime accused in the multi-crore PNB fraud case, on Saturday said that he has done nothing wrong and that the scam was a "civil transaction" which is now being blown out of proportion.

Modi, on Saturday, filed a response before the PMLA court opposing the Enforcement Directorate's complaint to have him declared a "fugitive economic offender" under the Fugitive Economic Offenders Act.

In the response, the absconding diamantaire also stated that he is unable to fly back to India citing security reasons.

Modi and his uncle Mehul Choksi, who are wanted in India for loan default, fled the country in the first week of January last year after their companies were found cheating the state-run PNB of Rs 13,000 crore.

The duo has not returned to India since then despite repeated summons from probe agencies and courts.

Modi is said to be in London while Choksi is residing in the Caribbean country of and Barbuda.

The government has also sent formal requests to both seeking their extradition.&nbsp;

Nirav Modi, prime accused in the multi-crore PNB fraud case, on Saturday said that he has done nothing wrong and that the scam was a "civil transaction" which is now being blown out of proportion.

Nirav Modi, prime accused in the multi-crore PNB fraud case, on Saturday said that he has done nothing wrong and that the scam was a "civil transaction" which is now being blown out of proportion. Modi, on Saturday, filed a response before the PMLA court opposing the Enforcement Directorate's complaint to have him declared a "fugitive economic offender" under the Fugitive Economic Offenders Act. In the response, the absconding diamantaire also stated that he is unable to fly back to India citing security reasons. Modi and his uncle Mehul Choksi, who are wanted in India for loan default, fled the country in the first week of January last year after their companies were found cheating the state-run PNB of Rs 13,000 crore. The duo has not returned to India since then despite repeated summons from probe agencies and courts. Modi is said to be in London while Choksi is residing in the Caribbean country of and Barbuda. The government has also sent formal requests to both seeking their extradition.

Done nothing wrong, 'civil transaction' is being blown out as scam: Nirav Modi

Mehul Choksi has said he cannot travel 41 hours to reach India. He has however said he would be willing to be questioned over video call.&nbsp;

Choksi is one of the prime accused, along with his nephew Nirav Modi, in the Rs 13,000 crore Punjab National Bank scam. Choksi is currently in Antigua.&nbsp;

Choksi submitted his answer to a Bombay court where a case has been filed against him by the Enforcement Directorate.&nbsp;

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Mehul Choksi also submitted in Bombay Court that he has expressed his willingness to join the investigation through video conferencing <a href="https://t.co/pE3CACK2DQ">https://t.co/pE3CACK2DQ</a>
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Choksi cited his poor health and inability to travel long hours for not being able to come to India for investigations.&nbsp;

He also accused&nbsp;the ED of misleading the court by deliberately not revealing his health condition. Choksi added that he is in constant touch with the banks and wishes to settle his dues.&nbsp;

The Interpol had on December 13 a&nbsp;<a href="http://www.wionews.com/india-news/pnb-bank-case-interpol-issues-red-corned-notice-against-mehul-choksi-183652">issued&nbsp;a red&nbsp;corner notice (RCN) against Mehul Choksi</a>.

An RCN issued by Interpol works like an international arrest warrant. The notice was issued at the request of India's CBI (Central Bureau of Investigation).

Mehul Choksi who owns Gitanjali Gems is under investigation for his role in the PNB scam along with his nephew Nirav Modi. The CBI had earlier arrested the vice-president of Gitanjali group Vipul Chitalia.

Choksi had reportedly taken Antiguan citizenship last year and moved to the Caribbean country in July this year after leaving India. He had said in a statement that he had moved to Antigua and Barbuda under the Citizenship by Investment program.

A similar Interpol notice was issued to Nirav Modi and his executive Mihir R Bhansali in September.

Punjab National Bank, the country'a second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.

Mehul Choksi has said he cannot travel 41 hours to reach India. He has however said he would be willing to be questioned over video call. Choksi is one of the prime accused, along with his nephew Nirav Modi, in the Rs 13,000 crore Punjab National Bank scam.

Mehul Choksi has said he cannot travel 41 hours to reach India. He has however said he would be willing to be questioned over video call. Choksi is one of the prime accused, along with his nephew Nirav Modi, in the Rs 13,000 crore Punjab National Bank scam. Choksi is currently in Antigua. Choksi submitted his answer to a Bombay court where a case has been filed against him by the Enforcement Directorate. Mehul Choksi also submitted in Bombay Court that he has expressed his willingness to join the investigation through video conferencing https://t.co/pE3CACK2DQ — ANI (@ANI) December 25, 2018 × Choksi cited his poor health and inability to travel long hours for not being able to come to India for investigations. He also accused the ED of misleading the court by deliberately not revealing his health condition. Choksi added that he is in constant touch with the banks and wishes to settle his dues. The Interpol had on December 13 a issued a red corner notice (RCN) against Mehul Choksi. An RCN issued by Interpol works like an international arrest warrant. The notice was issued at the request of India's CBI (Central Bureau of Investigation). Mehul Choksi who owns Gitanjali Gems is under investigation for his role in the PNB scam along with his nephew Nirav Modi. The CBI had earlier arrested the vice-president of Gitanjali group Vipul Chitalia. Choksi had reportedly taken Antiguan citizenship last year and moved to the Caribbean country in July this year after leaving India. He had said in a statement that he had moved to Antigua and Barbuda under the Citizenship by Investment program. A similar Interpol notice was issued to Nirav Modi and his executive Mihir R Bhansali in September. Punjab National Bank, the country'a second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.

Cannot travel 41 hours to reach India: Mehul Choksi

Fugitive diamantaire <a href="http://www.wionews.com/india-news/pnb-scam-this-is-how-nirav-modi-planned-his-safe-exit-from-india-33071">Nirav Modi</a>, a key accused in the USD 2 billion PNB<a href="http://www.wionews.com/india-news/nirav-modi-sold-fake-diamond-rings-to-canada-national-his-engagement-now-broken-report-170163"> fraud case,</a> cannot return to India as he is afraid of "getting lynched" and is being compared to demon 'Ravan', his lawyer told a special court Saturday, but the ED dismissed the claim saying if he felt there were "security threats", he should have filed a police complaint, . 
&nbsp; &nbsp; &nbsp; 
Nirav Modi's lawyer Vijay Agarwal stated this while arguing before Prevention of Money Laundering Act (PMLA) court Judge MS Azmi against the Enforcement Directorate's (ED) application to declare Modi a fugitive under the Fugitive Economic Offenders Act. 
&nbsp; &nbsp; &nbsp; 
Countering the ED plea, Nirav Modi also said through his lawyer that he had no record or data with him about his finances. 
&nbsp; &nbsp; &nbsp; 
Referring to Nirav Modi's claims of "security threats" in India, the ED said these points are "irrelevant" to the case. 
&nbsp; &nbsp; &nbsp; 
The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging emails and summons issued to him and that he doesn't want to return to India. 
&nbsp; &nbsp; &nbsp; 
Agarwal, however, said the diamond trader had responded to the emails sent by the investigating agencies and expressed his inability to return due to "security threats". 
&nbsp; &nbsp; &nbsp; 
"In a letter addressed to both the CBI and the ED, Modi had stated that he was not able to join the probe because of security threats (in India) from private persons, the families of those who have been detained (in the PNB case), landlords, the creditors who have not been paid and the customers whose jewellery was taken away by the ED," he said. 
&nbsp; &nbsp; &nbsp; 
"My (Modi's) 50-ft tall effigy was burnt in India. There was evidence of a mob lynching (against me) and I (Modi) was being compared with 'Ravan'. I have been projected as evil and being made the poster boy of the bank fraud," said Agarwal. 
&nbsp; &nbsp; &nbsp; 
He also claimed that Modi cannot be declared a fugitive as various legal requirements stipulated by the Fugitive Economic Offenders (FEO) Act have not been met by the investigating agency. 
&nbsp; &nbsp; &nbsp; 
"The main reason the ED is seeking to declare Nirav Modi a fugitive is that he left India under suspicious circumstances on January 1, 2018. However, there was no criminal case (against him) when he had left the country," Agarwal said. 
&nbsp; &nbsp; &nbsp; 
"They cannot just say that he left the country under suspicious circumstances. They need to specify what those suspicions were. Also, there is no material on record to say that he is refusing to return to India," he said. 
&nbsp; &nbsp; &nbsp; 
Unlike liquor baron Vijay Mallya, who is accused of a loan default of over Rs 9000 crore, Modi had no Non-Performing Assets (NPAs) when he left the country, Agarwal argued. 
&nbsp; &nbsp; &nbsp; 
He said that being a (jewellery) designer, Modi is a sort of an "artist" who cannot provide any financial information as desired by the ED. 
&nbsp; &nbsp; &nbsp; 
"All my (Modi) finances were taken care of by my employees who are already in the custody of the investigating agency. I have no record or data. What are they going to investigate with me, as they have taken away all my source of information," Agarwal said. 
&nbsp; &nbsp; &nbsp; 
Countering Agarwal's submission, ED counsel Hiten Venegaonkar said all these arguments have nothing to do with the Fugitive Act (FEO). 
&nbsp; &nbsp; &nbsp; 
"As far as security threats are concerned, any prudent person who is fearing threats to his life needs to file a police complaint. Until now, there is no material before the ED or the court (about any such complaint). So these points are irrelevant," he said. 
&nbsp; &nbsp; &nbsp; 
As per the investigating agencies, Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated the Punjab National Bank (PNB) to the tune of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs). 
&nbsp; &nbsp; &nbsp; 
These LoUs were allegedly issued in a fraudulent manner by a Mumbai branch of the PNB to the group of companies belonging to Modi since March 2011 till the case came to light.

Fugitive diamantaire Nirav Modi, a key accused in the USD 2 billion PNB fraud case, cannot return to India as he is afraid of "getting lynched" and is being compared to demon 'Ravan', his lawyer told a special court Saturday, but the ED dismissed the claim saying if he felt there were "security threats", he should have filed a police complaint, .

Fugitive diamantaire Nirav Modi, a key accused in the USD 2 billion PNB fraud case, cannot return to India as he is afraid of "getting lynched" and is being compared to demon 'Ravan', his lawyer told a special court Saturday, but the ED dismissed the claim saying if he felt there were "security threats", he should have filed a police complaint, . Nirav Modi's lawyer Vijay Agarwal stated this while arguing before Prevention of Money Laundering Act (PMLA) court Judge MS Azmi against the Enforcement Directorate's (ED) application to declare Modi a fugitive under the Fugitive Economic Offenders Act. Countering the ED plea, Nirav Modi also said through his lawyer that he had no record or data with him about his finances. Referring to Nirav Modi's claims of "security threats" in India, the ED said these points are "irrelevant" to the case. The ED has claimed that Nirav Modi had refused to join the probe despite acknowledging emails and summons issued to him and that he doesn't want to return to India. Agarwal, however, said the diamond trader had responded to the emails sent by the investigating agencies and expressed his inability to return due to "security threats". "In a letter addressed to both the CBI and the ED, Modi had stated that he was not able to join the probe because of security threats (in India) from private persons, the families of those who have been detained (in the PNB case), landlords, the creditors who have not been paid and the customers whose jewellery was taken away by the ED," he said. "My (Modi's) 50-ft tall effigy was burnt in India. There was evidence of a mob lynching (against me) and I (Modi) was being compared with 'Ravan'. I have been projected as evil and being made the poster boy of the bank fraud," said Agarwal. He also claimed that Modi cannot be declared a fugitive as various legal requirements stipulated by the Fugitive Economic Offenders (FEO) Act have not been met by the investigating agency. "The main reason the ED is seeking to declare Nirav Modi a fugitive is that he left India under suspicious circumstances on January 1, 2018. However, there was no criminal case (against him) when he had left the country," Agarwal said. "They cannot just say that he left the country under suspicious circumstances. They need to specify what those suspicions were. Also, there is no material on record to say that he is refusing to return to India," he said. Unlike liquor baron Vijay Mallya, who is accused of a loan default of over Rs 9000 crore, Modi had no Non-Performing Assets (NPAs) when he left the country, Agarwal argued. He said that being a (jewellery) designer, Modi is a sort of an "artist" who cannot provide any financial information as desired by the ED. "All my (Modi) finances were taken care of by my employees who are already in the custody of the investigating agency. I have no record or data. What are they going to investigate with me, as they have taken away all my source of information," Agarwal said. Countering Agarwal's submission, ED counsel Hiten Venegaonkar said all these arguments have nothing to do with the Fugitive Act (FEO). "As far as security threats are concerned, any prudent person who is fearing threats to his life needs to file a police complaint. Until now, there is no material before the ED or the court (about any such complaint). So these points are irrelevant," he said. As per the investigating agencies, Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated the Punjab National Bank (PNB) to the tune of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs). These LoUs were allegedly issued in a fraudulent manner by a Mumbai branch of the PNB to the group of companies belonging to Modi since March 2011 till the case came to light.

PNB scam accused Nirav Modi scared of mob lynching on return to India: Lawyer tells court

To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks (PSBs) to make a request for issuance of look-out circulars (LOCs) against suspects. 
The move comes against the backdrop of defaults by Vijay Mallya, Nirav Modi and Mehul Choksi and thereafter, fleeing the country.

The Ministry of Home Affairs (MHA) recently made changes in the circular by including CEOs of PSBs in the list of officials who can make a request for issuance of LOCs to the ministry.

The inclusion by MHA was done following the recommendation of an inter-ministerial panel under Financial Services Secretary Rajiv Kumar that made a case for empowering the heads of PSBs to request for the opening of LOCs.

When asked about the changes made in the circular of MHA, Kumar said it was a continuation of the government's clean-up drive of the banking sector.

Soon after the emergence of the PNB fraud and perpetrator Nirav and his uncle Choksi fleeing the country, the Finance Ministry asked PSBs to collect passport details of all those borrowers, who have borrowed loans of more than Rs 50 crore.

However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting for issuance of LOC by the concerned authority, thereby thwarting any move by them to flee the country, Kumar said.

"It will act as a big deterrent for wilful defaulters and also bring about a fundamental change in the creditor-debtor relationship," he said.

The Department of Financial Services has also issued an advisery to heads of all PSBs to take note of the changes in the circular and act as and when required in a specified manner.

Pursuant to the amendment of the MHA circular last month, the list now includes the chairman or managing director and CEO of all PSBs, the circular said.

Thus, the heads of PSBs have now been empowered to issue requests of the opening of LOCs for wilful defaulters as per the above-mentioned guidelines of MHA against whom an FIR is yet to be filed, it said.

Earlier this year, the government formed an inter-ministerial panel to look into various issues, including how to put a check on wilful defaulters fleeing the country.

Mallya had fled the country in March 2016 after defaulting on loans given to Kingfisher Airlines, which was promoted by his group.

Moreover, Parliament passed the Fugitive Economic Offenders Bill, 2018, giving authorities powers to attach and confiscate the proceeds of crime and properties of economic offenders, like bank fraudsters or loan defaulters fleeing the country.

The law is aimed at quickly recovering losses to exchequer or PSBs in cases of frauds.

Union Finance Minister Arun Jaitley had in his Budget speech for 2018-19 said the government was considering bringing a new law to confiscate assets of such absconders.

To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks (PSBs) to make a request for issuance of look-out circulars (LOCs) against suspects.

To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks (PSBs) to make a request for issuance of look-out circulars (LOCs) against suspects. The move comes against the backdrop of defaults by Vijay Mallya, Nirav Modi and Mehul Choksi and thereafter, fleeing the country. The Ministry of Home Affairs (MHA) recently made changes in the circular by including CEOs of PSBs in the list of officials who can make a request for issuance of LOCs to the ministry. The inclusion by MHA was done following the recommendation of an inter-ministerial panel under Financial Services Secretary Rajiv Kumar that made a case for empowering the heads of PSBs to request for the opening of LOCs. When asked about the changes made in the circular of MHA, Kumar said it was a continuation of the government's clean-up drive of the banking sector. Soon after the emergence of the PNB fraud and perpetrator Nirav and his uncle Choksi fleeing the country, the Finance Ministry asked PSBs to collect passport details of all those borrowers, who have borrowed loans of more than Rs 50 crore. However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting for issuance of LOC by the concerned authority, thereby thwarting any move by them to flee the country, Kumar said. "It will act as a big deterrent for wilful defaulters and also bring about a fundamental change in the creditor-debtor relationship," he said. The Department of Financial Services has also issued an advisery to heads of all PSBs to take note of the changes in the circular and act as and when required in a specified manner. Pursuant to the amendment of the MHA circular last month, the list now includes the chairman or managing director and CEO of all PSBs, the circular said. Thus, the heads of PSBs have now been empowered to issue requests of the opening of LOCs for wilful defaulters as per the above-mentioned guidelines of MHA against whom an FIR is yet to be filed, it said. Earlier this year, the government formed an inter-ministerial panel to look into various issues, including how to put a check on wilful defaulters fleeing the country. Mallya had fled the country in March 2016 after defaulting on loans given to Kingfisher Airlines, which was promoted by his group. Moreover, Parliament passed the Fugitive Economic Offenders Bill, 2018, giving authorities powers to attach and confiscate the proceeds of crime and properties of economic offenders, like bank fraudsters or loan defaulters fleeing the country. The law is aimed at quickly recovering losses to exchequer or PSBs in cases of frauds. Union Finance Minister Arun Jaitley had in his Budget speech for 2018-19 said the government was considering bringing a new law to confiscate assets of such absconders.

Govt authorises bank CEOs to request for look-out circulars against wilful defaulters

The Enforcement Directorate on Thursday filed its first charge sheet in the PNB Scam worth over $2 billion.

The 12,000-page complaint filed by the ED is issued against diamantaire Nirav Modi and his associates at a special court in Mumbai.

The charge sheet has been filed under various sections of the Prevention of Money Laundering Act (PMLA).&nbsp;

The prosecution complaint (charge sheet)&nbsp;includes the details of the attachments made by&nbsp;Nirav Modi and his associates.

Two other charge sheets were filed by the CBI in the matter earlier&nbsp;this month.

The Enforcement Directorate had recently summoned Nirav Modi's family for questioning in the PNB scam after his repeated failures in appearing before the court despite several summonses.&nbsp;

The prosecution complaint (charge sheet) filed against Nirav Modi and his associates includes the details of the attachments made by the agency against them

The Enforcement Directorate on Thursday filed its first charge sheet in the PNB Scam worth over $2 billion. The 12,000-page complaint filed by the ED is issued against diamantaire Nirav Modi and his associates at a special court in Mumbai. The charge sheet has been filed under various sections of the Prevention of Money Laundering Act (PMLA). The prosecution complaint (charge sheet) includes the details of the attachments made by Nirav Modi and his associates. Two other charge sheets were filed by the CBI in the matter earlier this month. The Enforcement Directorate had recently summoned Nirav Modi's family for questioning in the PNB scam after his repeated failures in appearing before the court despite several summonses.

PNB Scam: ED files first chargesheet against Nirav Modi, associates

Former MD and CEO of the Punjab National Bank Usha Ananthasubramanian and some other senior bank officials were aware of the "fraudulent" dealings with diamond merchant Nirav Modi but kept "misleading" the RBI, the CBI has alleged in its charge sheet.

A special CBI court here took cognisance of the chargesheet today and permitted the investigating agency to issue fresh non-bailable warrants against Nirav Modi, his brother Nishal and an executive of the Nirav Modi Group Subhash Parab.

In its charge sheet into the nearly 13,000 crore scam, the CBI said the RBI had since October 2016 sent several questionnaires to the PNB, seeking to know what procedures or measures the bank follows before issuing Letters of Understandings and Letters of Credit.

Also read:&nbsp;<a href="http://www.wionews.com/india-news/pnb-scam-how-punjab-national-bank-fell-victim-to-countrys-biggest-bank-fraud-33009">How Punjab National Bank fell victim to country's biggest bank fraud</a>

"This was duly dealt by accused Ananthasubramanian and the bank's Executive Directors - K V Brahmaji Rao, Sanjiv Sharan and Nehal Ahad and instead of replying to the queries in true spirit and facts, Ahad and the general manager of the International Banking Division of the bank's headquarters prepared a misleading reply and sent it to the RBI after getting the same approved from Sharan," the CBI said.

The 12,000-page chargesheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.

"The accused PNB officials, including Ananthasubramanian and others, were aware of this fraud involving PNB Dubai and the Indian Overseas Bank Chandigarh and yet they did not take any corrective action and remained silent spectators. This facilitated continuance of the fraud resulting in wrongful loss to the PNB," it said.

From August 2015 to May 2017, when Ananthasubramanian was the MD and CEO of the PNB, relevant circulars, caution notices and urgent questionnaires issued by the RBI were brought to her notice and she dealt with the same, the CBI said.

"Inspite of her knowledge about the modus operandi in these frauds, she (Ananthasubramanian) did not take any meaningful corrective measures in her capacity as the executive head of the bank and had unauthorisedly delegated the RBI guidelines work to her subordinates without any follow up action," the chargesheet said.

The CBI has further claimed that senior officers from the Nirav Modi Group including accused Vipul Ambani were constantly meeting Ananthasubramanian in order to continue 
with the credit facilities to the group.

"This indicated clearly that she (Ananthasubramanian) was aware of the facilities extended to the various group entities of Modi," it said.

The CBI has made the allegation in its charge sheet. It added that other than the MD and CEO Usha Ananthasubramanian, other senior officials of the bank were also in the know

Former MD and CEO of the Punjab National Bank Usha Ananthasubramanian and some other senior bank officials were aware of the "fraudulent" dealings with diamond merchant Nirav Modi but kept "misleading" the RBI, the CBI has alleged in its charge sheet. A special CBI court here took cognisance of the chargesheet today and permitted the investigating agency to issue fresh non-bailable warrants against Nirav Modi, his brother Nishal and an executive of the Nirav Modi Group Subhash Parab. In its charge sheet into the nearly 13,000 crore scam, the CBI said the RBI had since October 2016 sent several questionnaires to the PNB, seeking to know what procedures or measures the bank follows before issuing Letters of Understandings and Letters of Credit. Also read: How Punjab National Bank fell victim to country's biggest bank fraud "This was duly dealt by accused Ananthasubramanian and the bank's Executive Directors - K V Brahmaji Rao, Sanjiv Sharan and Nehal Ahad and instead of replying to the queries in true spirit and facts, Ahad and the general manager of the International Banking Division of the bank's headquarters prepared a misleading reply and sent it to the RBI after getting the same approved from Sharan," the CBI said. The 12,000-page chargesheet further claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks. "The accused PNB officials, including Ananthasubramanian and others, were aware of this fraud involving PNB Dubai and the Indian Overseas Bank Chandigarh and yet they did not take any corrective action and remained silent spectators. This facilitated continuance of the fraud resulting in wrongful loss to the PNB," it said. From August 2015 to May 2017, when Ananthasubramanian was the MD and CEO of the PNB, relevant circulars, caution notices and urgent questionnaires issued by the RBI were brought to her notice and she dealt with the same, the CBI said. "Inspite of her knowledge about the modus operandi in these frauds, she (Ananthasubramanian) did not take any meaningful corrective measures in her capacity as the executive head of the bank and had unauthorisedly delegated the RBI guidelines work to her subordinates without any follow up action," the chargesheet said. The CBI has further claimed that senior officers from the Nirav Modi Group including accused Vipul Ambani were constantly meeting Ananthasubramanian in order to continue with the credit facilities to the group. "This indicated clearly that she (Ananthasubramanian) was aware of the facilities extended to the various group entities of Modi," it said.

Former PNB MD knew of Nirav Modi scam but 'kept misleading' RBI, says CBI

Sources in the Enforcement Directorate have said Nirav Modi may, on the advice of his lawyer, head for London.&nbspThe sources added that Modi has property in London.

The sources said Mehul Choksi has applied for asylum in America. And that he is currently living in New York's Bronx area.&nbsp

The sources added that Choksi had applied for asylum on May 3.&nbsp

Modi and his maternal uncle Choksi are the main accused in the Rs 13,000 crore Punjab National Bank scam.&nbsp

Nirav Modi, according to news reports, has of late been spotted in New York, as well as in Dubai, Belgium and Hong Kong.&nbsp&nbsp

The sources added that Mehul Choksi has applied for asylum in America. And that he is currently living in New York's Bronx area

Sources in the Enforcement Directorate have said Nirav Modi may, on the advice of his lawyer, head for London.&nbspThe sources added that Modi has property in London. The sources said Mehul Choksi has applied for asylum in America. And that he is currently living in New York's Bronx area. The sources added that Choksi had applied for asylum on May 3. Modi and his maternal uncle Choksi are the main accused in the Rs 13,000 crore Punjab National Bank scam. Nirav Modi, according to news reports, has of late been spotted in New York, as well as in Dubai, Belgium and Hong Kong.

Nirav Modi may head for London, Mehul Choksi in New York: ED sources

The Central Bureau of Investigation on Monday filed its first chargesheet in&nbsp;the PNB Scam worth over $2 billion, in a special court in Mumbai.

The chargesheet highlights the alleged role of banks' former chief Usha Ananthasubramanian, while also naming several other top officials of the bank.&nbsp;

Also read: <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970">Who is Nirav Modi, the billionaire jeweller at </a><a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970">centre</a><a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970"> of Rs 11,400 crore PNB scam</a>

Besides&nbsp;Ananthasubramanian, the chargesheet also&nbsp;includes the name of PNB executive directors K V Brahmaji Rao and Sanjiv Sharan, and general manager (international operations) Nehal Ahad.

Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017.

The first chargesheet details the role of Nirav Modi, his brother Nishal Modi and Subhash Parab, an executive in their company while not giving many details about the role played by Mehul Chowki.

The chargesheet majorly deals with the issuance of Rs 6,000 crores of Letters of Undertaking to Diamond R US, Solar Exports and Stellar Diamonds.&nbsp;

The Secretary, Department of Financial Services (DFS)&nbsp;Rajiv Kumar also said that the department has asked the boards of the Punjab National Bank and Allahabad Bank to divest the powers of all the accused in the case.&nbsp;

He said, "Today, we have directed directors of PNB and Allahabad&nbsp;bank to divest all the powers of those who are accused".

He further said that they have&nbsp;initiated the removal of 3 board level officers, 2 ED officers of Punjab National Bank and 1 MD of Allahabad Bank.

&nbsp;

The Secretary, Department of Financial Services (DFS) Rajiv Kumar said that the department has asked the boards of the Punjab National Bank and Allahabad Bank to divest the powers of all the accused in the case

The Central Bureau of Investigation on Monday filed its first chargesheet in the PNB Scam worth over $2 billion, in a special court in Mumbai. The chargesheet highlights the alleged role of banks' former chief Usha Ananthasubramanian, while also naming several other top officials of the bank. Also read: Who is Nirav Modi, the billionaire jeweller at centre of Rs 11,400 crore PNB scam Besides Ananthasubramanian, the chargesheet also includes the name of PNB executive directors K V Brahmaji Rao and Sanjiv Sharan, and general manager (international operations) Nehal Ahad. Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017. The first chargesheet details the role of Nirav Modi, his brother Nishal Modi and Subhash Parab, an executive in their company while not giving many details about the role played by Mehul Chowki. The chargesheet majorly deals with the issuance of Rs 6,000 crores of Letters of Undertaking to Diamond R US, Solar Exports and Stellar Diamonds. The Secretary, Department of Financial Services (DFS) Rajiv Kumar also said that the department has asked the boards of the Punjab National Bank and Allahabad Bank to divest the powers of all the accused in the case. He said, "Today, we have directed directors of PNB and Allahabad bank to divest all the powers of those who are accused". He further said that they have initiated the removal of 3 board level officers, 2 ED officers of Punjab National Bank and 1 MD of Allahabad Bank.

PNB scam: CBI files first chargesheet in Mumbai special court

In response to WION's query on Nirav Modi's whereabouts, Hong Kong's Department of Justice said, 'the Department of Justice does not comment on individual cases.'

WION had raised a query to Hong Kong's justice department regarding Nirav Modi's extradition which was met with a reply that no comments will be made on individual cases.&nbsp;

China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region and judicial agreements between the two.&nbsp;

While Hong Kong is part of the People's Republic of China, it is an autonomous region with its own laws.&nbsp;

A provisional arrest has to be made before a formal extradition can be requested.&nbsp;

Meanwhile, Nirav Modi's presence in Hong Kong has been confirmed. In a written reply to the Parliament, it was stated that India had approached the Hong Kong authorities on March 23 regarding Nirav Modi's provisional arrest.

Besides this, the Punjab National Bank has approached Hong Kong Court against Nirav Modi after moving the insolvency authority in the US.&nbsp;

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Hong Kong's Department of Justice in a response to ANI about Nirav Modi's whereabouts said, 'the Department of Justice does not comment on individual cases.'
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The bank plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said.&nbsp;

Hong Kong authorities have been approached and a recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details.&nbsp;

Billionaire jeweller Nirav Modi figures at the centre of an Rs 13,000-crore fraud.&nbsp;

Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs13,000 crore through fraudulent Letters of Undertaking (LoUs).&nbsp;

(With inputs from PTI)&nbsp;

China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region

In response to WION's query on Nirav Modi's whereabouts, Hong Kong's Department of Justice said, 'the Department of Justice does not comment on individual cases.' WION had raised a query to Hong Kong's justice department regarding Nirav Modi's extradition which was met with a reply that no comments will be made on individual cases. China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region and judicial agreements between the two. While Hong Kong is part of the People's Republic of China, it is an autonomous region with its own laws. A provisional arrest has to be made before a formal extradition can be requested. Meanwhile, Nirav Modi's presence in Hong Kong has been confirmed. In a written reply to the Parliament, it was stated that India had approached the Hong Kong authorities on March 23 regarding Nirav Modi's provisional arrest. Besides this, the Punjab National Bank has approached Hong Kong Court against Nirav Modi after moving the insolvency authority in the US. Hong Kong's Department of Justice in a response to ANI about Nirav Modi's whereabouts said, 'the Department of Justice does not comment on individual cases.' — ANI (@ANI) April 23, 2018 × The bank plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said. Hong Kong authorities have been approached and a recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details. Billionaire jeweller Nirav Modi figures at the centre of an Rs 13,000-crore fraud. Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs13,000 crore through fraudulent Letters of Undertaking (LoUs). (With inputs from PTI)

Watch: Hong Kong refuses to comment on Nirav Modi's whereabouts

The Central Bureau of Investigation has initiated a probe in connection with Rs 5,280 crore loan given to Mehul Choksi’s Gitanjali Group by a consortium of banks led by the ICICI Bank.

The probe comes in addition to the existing FIR filed against Choksi and his Gitanjali Group of companies.

The fresh investigation, into Rs 5,280 crore loan amount, is separate from the Rs 13,600 crore Punjab National Bank (PNB) fraud which is already being probed by the CBI.

CBI filed a case against Choksi-led Gitanjali group of companies for allegedly defrauding the bank of Rs 4,8886.72 crore. Another PNB complaint raised on February 22 increased the fraud amount by another Rs 1,251.56 crore.

An additional complaint from PNB against the Gitanjali Group emerged, this time around the sum involved amounted to around Rs 942.18 crore.&nbsp;

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Meanwhile. a special CBI court in Mumbai today issued a non-bailable warrant against diamond merchant Mehul Choksi.

According to reports, three summons were sent&nbsp;to Choksi on his email address, Choksi neither responded to them nor appeared before the agency.

The prosecution said there was "every reason to believe" that Choksi had fled the country and is in hiding, and that steps are being taken to secure his presence by the issuance of red corner notice by the Interpol.

"...To secure his presence and to pursue the same, an open non-bailable warrant is required against Choksi," the court was told.

It is alleged that the LoUs (Letter of Undertaking) and LCs (Letter of Credit) worth close to USD 2 billion were issued to the companies of accused Choksi and his nephew Nirav Modi from the Brady Road branch of the PNB in Mumbai through SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages.

The messages were allegedly not entered in the banking software of the PNB to bypass surveillance. Several bank employees have been booked for collusion in the case.

Both Choksi and Nirav Modi have been booked in two cases each related to the bank fraud under the Prevention of Money Laundering Act and the Indian Penal Code.

The duo, along with their families, reportedly left the country in the first week of January this year, days before the alleged fraud came to light. 
 
The agency has arrested 19 people so far in connection with the fraud. The Enforcement Directorate (ED) is also conducting an independent probe.

The Central government has claimed to have tracked Modi in Hong Kong and sought his arrest under the 'Surrender of Fugitive Offenders Agreement' with Hong Kong.

(With inputs from agencies)&nbsp;

The fresh investigation, into Rs 5,280 crore loan amount, is separate from the Rs 13,600 crore Punjab National Bank (PNB) fraud which is already being probed by the CBI

The Central Bureau of Investigation has initiated a probe in connection with Rs 5,280 crore loan given to Mehul Choksi’s Gitanjali Group by a consortium of banks led by the ICICI Bank. The probe comes in addition to the existing FIR filed against Choksi and his Gitanjali Group of companies. The fresh investigation, into Rs 5,280 crore loan amount, is separate from the Rs 13,600 crore Punjab National Bank (PNB) fraud which is already being probed by the CBI. CBI filed a case against Choksi-led Gitanjali group of companies for allegedly defrauding the bank of Rs 4,8886.72 crore. Another PNB complaint raised on February 22 increased the fraud amount by another Rs 1,251.56 crore. An additional complaint from PNB against the Gitanjali Group emerged, this time around the sum involved amounted to around Rs 942.18 crore. The Central Bureau of Investigation (CBI) initiates a probe in connection with Rs 5,280 crore loan given to Mehul Choksi’s Gitanjali Group by a 31-bank consortium led by the ICICI Bank — ANI (@ANI) April 11, 2018 × Meanwhile. a special CBI court in Mumbai today issued a non-bailable warrant against diamond merchant Mehul Choksi. According to reports, three summons were sent to Choksi on his email address, Choksi neither responded to them nor appeared before the agency. The prosecution said there was "every reason to believe" that Choksi had fled the country and is in hiding, and that steps are being taken to secure his presence by the issuance of red corner notice by the Interpol. "...To secure his presence and to pursue the same, an open non-bailable warrant is required against Choksi," the court was told. It is alleged that the LoUs (Letter of Undertaking) and LCs (Letter of Credit) worth close to USD 2 billion were issued to the companies of accused Choksi and his nephew Nirav Modi from the Brady Road branch of the PNB in Mumbai through SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages. The messages were allegedly not entered in the banking software of the PNB to bypass surveillance. Several bank employees have been booked for collusion in the case. Both Choksi and Nirav Modi have been booked in two cases each related to the bank fraud under the Prevention of Money Laundering Act and the Indian Penal Code. The duo, along with their families, reportedly left the country in the first week of January this year, days before the alleged fraud came to light. The agency has arrested 19 people so far in connection with the fraud. The Enforcement Directorate (ED) is also conducting an independent probe. The Central government has claimed to have tracked Modi in Hong Kong and sought his arrest under the 'Surrender of Fugitive Offenders Agreement' with Hong Kong. (With inputs from agencies)

PNB scam: Now, Rs 5,280 crore loan to Choksi under CBI scanner

The Delhi High Court today directed diamantaire Nirav Modi's company, Firestar Diamond, to ask him to return to India, dubbing him a "fugitive".

A bench of Justices S Muralidhar and I S Mehta passed the direction after the company's lawyer said relief should not be denied to it on a technicality that Firestar International had authorised the filing of petitions by its subsidiary, Firestar Diamond.

"If we should not stress upon the technicality. Then ask Mr Modi to come back. Ask him to come back," the bench told advocate Vijay Aggarwal, who appeared for Firestar Diamond and Firestar International.

Expressing "serious concern" over Modi's statement to investigative agencies that he will not submit to their jurisdiction, the court said "we are dealing with a fugitive here according to them (ED). A fugitive from justice stands on a different footing."

Agarwal, however, said that the media has termed Modi as a fugitive and only non-bailable warrants have been issued against him and no order proclaiming him as an absconder has been passed.

The Enforcement Directorate (ED) has conducted searches and seizure of the company and its assets in connection with a money laundering case related to the over Rs 11,000 crore Punjab National Bank (PNB) fraud case.

Agarwal urged the bench to either stay the ED proceedings against the two companies or direct the agency to provide the reasons for its search and seizure action.

The ED, represented by Additional Solicitor General Sandeep Sethi and central government standing counsel Amit Mahajan, raised several objections, including that of jurisdiction, against the maintainability of the pleas.

The agency contended that no relief should be granted to the two companies under the discretionary power of the court as Modi was a "fugitive from justice", was "absconding" and not joining the investigation.

It showed the shareholding pattern of the two companies and several others in which Modi has stake and argued that he was the person behind all of them.

The court took note of the shareholding pattern and said it was "intricate" and "speaks for itself".

The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.

The observations came during the hearing on the pleas of Modi's and Mehul Choksi's firms challenging the ED proceedings against them as well as various provisions of the Prevention of Money Laundering Act (PMLA). The court listed all the matters for hearing on May 3.

It asked the ED to file its response to the pleas moved by Choksi's Gitanjali Gems and Modi's Firestar International, the parent company of Firestar Diamonds which had earlier moved the high court against the ED proceedings.

During the hearing, Agarwal argued that the agency was making contradictory submissions. He said, on one hand, it was saying Modi was not separate from the two companies, on the other, it was saying that the Board of Firestar International cannot authorise filing of petitions by Firestar Diamond as they were different entities.

The court, however, observed that in view of the board resolution by Firestar International, the petitions of Firestar Diamond were bad from inception and added that the conduct of Modi was also essential to consider grant of discretionary relief.

With regard to the plea by Choksi's Gitanjali Gems, which has challenged the alleged illegal seizure of documents and articles by the probe agency, the bench said its shareholding to has to be seen to ascertain who holds the controlling interest.

"The bottom line is that under Article 226 for grant of discretionary relief, we may want to examine to whom the benefit will endure. We have to see who will be benefitted," the court said.

The three companies in their respective pleas have sought directions to ED to supply them copies of search warrants, the ECIR registered by the agency on the basis of which searches were made in their premises and the entire documentation and details of places where the assets have been kept for safe keeping.

They have also challenged the constitutionality of various provisions of the PMLA, including Section 17 which gives powers of search and seizure and Section 20 relating to retention of property.

Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs

11,400 crore, with the purported involvement of a few employees of the bank.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR.

The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

The Enforcement Directorate (ED) has conducted searches and seizure of the company and its assets

The Delhi High Court today directed diamantaire Nirav Modi's company, Firestar Diamond, to ask him to return to India, dubbing him a "fugitive". A bench of Justices S Muralidhar and I S Mehta passed the direction after the company's lawyer said relief should not be denied to it on a technicality that Firestar International had authorised the filing of petitions by its subsidiary, Firestar Diamond. "If we should not stress upon the technicality. Then ask Mr Modi to come back. Ask him to come back," the bench told advocate Vijay Aggarwal, who appeared for Firestar Diamond and Firestar International. Expressing "serious concern" over Modi's statement to investigative agencies that he will not submit to their jurisdiction, the court said "we are dealing with a fugitive here according to them (ED). A fugitive from justice stands on a different footing." Agarwal, however, said that the media has termed Modi as a fugitive and only non-bailable warrants have been issued against him and no order proclaiming him as an absconder has been passed. The Enforcement Directorate (ED) has conducted searches and seizure of the company and its assets in connection with a money laundering case related to the over Rs 11,000 crore Punjab National Bank (PNB) fraud case. Agarwal urged the bench to either stay the ED proceedings against the two companies or direct the agency to provide the reasons for its search and seizure action. The ED, represented by Additional Solicitor General Sandeep Sethi and central government standing counsel Amit Mahajan, raised several objections, including that of jurisdiction, against the maintainability of the pleas. The agency contended that no relief should be granted to the two companies under the discretionary power of the court as Modi was a "fugitive from justice", was "absconding" and not joining the investigation. It showed the shareholding pattern of the two companies and several others in which Modi has stake and argued that he was the person behind all of them. The court took note of the shareholding pattern and said it was "intricate" and "speaks for itself". The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief. The observations came during the hearing on the pleas of Modi's and Mehul Choksi's firms challenging the ED proceedings against them as well as various provisions of the Prevention of Money Laundering Act (PMLA). The court listed all the matters for hearing on May 3. It asked the ED to file its response to the pleas moved by Choksi's Gitanjali Gems and Modi's Firestar International, the parent company of Firestar Diamonds which had earlier moved the high court against the ED proceedings. During the hearing, Agarwal argued that the agency was making contradictory submissions. He said, on one hand, it was saying Modi was not separate from the two companies, on the other, it was saying that the Board of Firestar International cannot authorise filing of petitions by Firestar Diamond as they were different entities. The court, however, observed that in view of the board resolution by Firestar International, the petitions of Firestar Diamond were bad from inception and added that the conduct of Modi was also essential to consider grant of discretionary relief. With regard to the plea by Choksi's Gitanjali Gems, which has challenged the alleged illegal seizure of documents and articles by the probe agency, the bench said its shareholding to has to be seen to ascertain who holds the controlling interest. "The bottom line is that under Article 226 for grant of discretionary relief, we may want to examine to whom the benefit will endure. We have to see who will be benefitted," the court said. The three companies in their respective pleas have sought directions to ED to supply them copies of search warrants, the ECIR registered by the agency on the basis of which searches were made in their premises and the entire documentation and details of places where the assets have been kept for safe keeping. They have also challenged the constitutionality of various provisions of the PMLA, including Section 17 which gives powers of search and seizure and Section 20 relating to retention of property. Billionaire Nirav Modi, his uncle Mehul Choksi and others are being investigated by multiple probe agencies after the scam recently came to light following a complaint by the PNB that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. The CBI and the ED have registered FIRs to probe the case and intensified the crackdown on Nirav Modi and Choksi with the ED seizing jewellery and assets worth thousands of crores of rupees, the I-T department attaching various properties, and the CBI grilling several senior executives of his company.

High Court asks Nirav Modi's company to tell him to come back

China today said that Hong Kong can accede to India's request to arrest fugitive Indian diamond merchant Nirav Modi based on local laws and mutual judicial assistance agreements.

India's Minister of State for External Affairs V K Singh told parliament last week that "the ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region (HKSAR), the People's Republic of China."

Asked about India's request, Chinese Foreign Ministry spokesman Geng Shuang told a media briefing here that "according to the one country two systems and basic law of the HKSAR, under the assistance and authorisation of the central government, the HKSAR can make proper arrangement on judicial mutual assistance with other countries," he said.

"If India makes relevant request to the HKSAR, we believe the HKSAR will follow the basic law and relevant laws and under relevant judicial agreements with India with the relevant issue," he said.

Modi, who is wanted in connection with the 12,700-crore scam at the Punjab National Bank, is reportedly in Hong Kong which is a specially-administered region of China.

Modi has his shop in Hong Kong besides in Beijing.&nbsp;

Modi, wanted in connection with the 12,700-crore Punjab National Bank scam, is reportedly in Hong Kong

China today said that Hong Kong can accede to India's request to arrest fugitive Indian diamond merchant Nirav Modi based on local laws and mutual judicial assistance agreements. India's Minister of State for External Affairs V K Singh told parliament last week that "the ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region (HKSAR), the People's Republic of China." Asked about India's request, Chinese Foreign Ministry spokesman Geng Shuang told a media briefing here that "according to the one country two systems and basic law of the HKSAR, under the assistance and authorisation of the central government, the HKSAR can make proper arrangement on judicial mutual assistance with other countries," he said. "If India makes relevant request to the HKSAR, we believe the HKSAR will follow the basic law and relevant laws and under relevant judicial agreements with India with the relevant issue," he said. Modi, who is wanted in connection with the 12,700-crore scam at the Punjab National Bank, is reportedly in Hong Kong which is a specially-administered region of China. Modi has his shop in Hong Kong besides in Beijing.

Hong Kong can take a decision on Nirav Modi's arrest, says China

<a href="http://cmsuat.wionews.com/india-news/pnb-scam-non-bailable-warrants-issued-against-nirav-modi-mehul-choksi-on-cbi-plea-129156">PNB scam: Non-bailable warrants issued against Nirav Modi, Mehul Choksi on CBI plea</a>

A special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over $2 billion banking fraud in the Punjab National Bank, officials said in New Delhi on Sunday.

<a href="http://cmsuat.wionews.com/india-news/rajinikanth-wants-chennai-players-to-wear-black-armbands-this-is-why-129122">Rajinikanth wants Chennai players to wear black armbands. This is why</a>

Rajinikanth on Sunday urged IPL franchise Chennai and its fans to wear a black armband as a show of solidarity with the protests in Tamil Nadu calling for the quick set up of a Cauvery management board.&nbsp&nbsp

<a href="http://cmsuat.wionews.com/india-news/china-objects-to-indias-transgression-in-arunachal-pradesh-india-rejects-the-protest-129126">China objects to India's 'transgression' in Arunachal Pradesh India rejects the protest</a>

In yet another incident of discord, the Chinese military last month strongly protested against what it called the Indian Army's transgressions into the strategically sensitive Asaphila area along the border in Arunachal Pradesh, but the Indian side roundly dismissed the complaint, official sources said.

<a href="http://cmsuat.wionews.com/india-news/worst-behind-us-will-be-out-of-nirav-modi-mess-in-6-months-pnb-md--129125">Worst behind </a><a href="http://cmsuat.wionews.com/india-news/worst-behind-us-will-be-out-of-nirav-modi-mess-in-6-months-pnb-md--129125">us,</a><a href="http://cmsuat.wionews.com/india-news/worst-behind-us-will-be-out-of-nirav-modi-mess-in-6-months-pnb-md--129125"> will be out of Nirav Modi mess in 6 months: PNB MD</a>

The worst is over for PNB and it will come out of the mess created by the Nirav Modi fraud case in six months, the state-run lender's Managing Director Sunil Mehta said Sunday.

<a href="http://cmsuat.wionews.com/south-asia/pakistan-afghanistan-to-act-against-fugitives-irreconcilable-militants-129127">Pakistan, Afghanistan to act against fugitives, irreconcilable militants</a>

Pakistan and Afghanistan have agreed to take action against fugitives and the irreconcilable militants under a bilateral agreement for regional peace and security, the Foreign Office said today.

PNB scam: Non-bailable warrants issued against Nirav Modi, Mehul Choksi on CBI plea A special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over $2 billion banking fraud in the Punjab National Bank, officials said in New Delhi on Sunday. Rajinikanth wants Chennai players to wear black armbands. This is why Rajinikanth on Sunday urged IPL franchise Chennai and its fans to wear a black armband as a show of solidarity with the protests in Tamil Nadu calling for the quick set up of a Cauvery management board. China objects to India's 'transgression' in Arunachal Pradesh India rejects the protest In yet another incident of discord, the Chinese military last month strongly protested against what it called the Indian Army's transgressions into the strategically sensitive Asaphila area along the border in Arunachal Pradesh, but the Indian side roundly dismissed the complaint, official sources said. Worst behind us, will be out of Nirav Modi mess in 6 months: PNB MD The worst is over for PNB and it will come out of the mess created by the Nirav Modi fraud case in six months, the state-run lender's Managing Director Sunil Mehta said Sunday. Pakistan, Afghanistan to act against fugitives, irreconcilable militants Pakistan and Afghanistan have agreed to take action against fugitives and the irreconcilable militants under a bilateral agreement for regional peace and security, the Foreign Office said today.

Newsbrief: Big stories of the day

A special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire <a href="http://www.wionews.com/india-news/worst-behind-us-will-be-out-of-nirav-modi-mess-in-6-months-pnb-md--129125">Nirav Modi and his uncle Mehul Choksi</a> in connection with the cases related to over $2 billion banking fraud in the Punjab National Bank, officials said in New Delhi on Sunday.

The special court has allowed the application of the agency for the issuance of NBWs against Modi and Choksi who had repeatedly refused to join the investigation in the scam, considered the biggest in the banking history of the country, the officials said.

The agency had written to Modi and Choksi to join probe on their official e-mail ids but they have refused to join it citing business engagements and health issues. The issuance of NBWs by a court also opens door of seeking Red Corner Notices against both of the accused from the Interpol.

The government has claimed to have tracked Modi in Hong Kong where it has sent a request for his provisional arrest.

The CBI, in the meanwhile, is questioning officials of overseas branches of Indian banks which had extended credit facilities to the companies of Modi and Choksi on the basis of fraudulent Letters of Undertaking (LoUs) issued by the Punjab National Bank’s Brady House branch in Mumbai.

The agency has also summoned the official who handled foreign exchange transactions in the Hong Kong branch of the Allahabad bank, they said, adding that he may join the probe soon.

It is alleged that the LoUs and LCs worth close to $2 billion were issued to the companies of the uncle-nephew duo of Choksi and Modi from the Brady Road branch of the bank through SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages.

Several bank employees have been booked for collusion in the case, they said. The LoU is a guarantee which is given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant. In case of default, the bank issuing the LoU has to pay the liability to the credit giving bank along with accruing interest.

These messages were allegedly not entered in the banking software of the PNB to bypass surveillance. Modi (46), a regular feature on the lists of rich and famous Indians since 2013, was booked by the CBI, along with his wife, brother and Choksi for allegedly cheating the state-run PNB. Both Choksi and Modi have been booked in two cases each related to the bank fraud.

The uncle-nephew duo had managed to flee the country in the first week of January days before the PNB was able to detect the fraud. The bank officials also fraudulently issued foreign letters of credit or FLCs in which the PNB guaranteed payment on behalf of the accused to their suppliers which was to be recovered from the firms of Choksi and Nirav Modi, they alleged.

Funds raised through LoUs were meant to be used for the payment of import bills of the accused companies whereas it was dishonesty and fraudulently utilised for discharging the earlier liabilities on account of buyer’s credit facilities in a kind of roll over of payments, they alleged.

The PNB has alleged in its complaint that they opened the Letters of Credit initially for smaller amounts by creating purported entries in the core banking system, they said.

The accused bank officials pursuant to the conspiracy unauthorisedly enhanced the values of the FLCs and issued amendments to the FLCs issued through SWIFT which were encashed in overseas branches of Indian banks.

According to the RBI guidelines, LoUs for gems should not be valid for more than 90 days. The CBI had approached the Interpol with a request for issuing ‘Diffusion Notice’ which was aimed at locating an individual.

A court has allowed the application of CBI for issuance of non-bailable warrants against Nirav Modi and Mehul Choksi who had repeatedly refused to join the probe.

A special CBI court in Mumbai has issued non-bailable warrants (NBWs) against billionaire diamantaire Nirav Modi and his uncle Mehul Choksi in connection with the cases related to over $2 billion banking fraud in the Punjab National Bank, officials said in New Delhi on Sunday. The special court has allowed the application of the agency for the issuance of NBWs against Modi and Choksi who had repeatedly refused to join the investigation in the scam, considered the biggest in the banking history of the country, the officials said. The agency had written to Modi and Choksi to join probe on their official e-mail ids but they have refused to join it citing business engagements and health issues. The issuance of NBWs by a court also opens door of seeking Red Corner Notices against both of the accused from the Interpol. The government has claimed to have tracked Modi in Hong Kong where it has sent a request for his provisional arrest. The CBI, in the meanwhile, is questioning officials of overseas branches of Indian banks which had extended credit facilities to the companies of Modi and Choksi on the basis of fraudulent Letters of Undertaking (LoUs) issued by the Punjab National Bank’s Brady House branch in Mumbai. The agency has also summoned the official who handled foreign exchange transactions in the Hong Kong branch of the Allahabad bank, they said, adding that he may join the probe soon. It is alleged that the LoUs and LCs worth close to $2 billion were issued to the companies of the uncle-nephew duo of Choksi and Modi from the Brady Road branch of the bank through SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages. Several bank employees have been booked for collusion in the case, they said. The LoU is a guarantee which is given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant. In case of default, the bank issuing the LoU has to pay the liability to the credit giving bank along with accruing interest. These messages were allegedly not entered in the banking software of the PNB to bypass surveillance. Modi (46), a regular feature on the lists of rich and famous Indians since 2013, was booked by the CBI, along with his wife, brother and Choksi for allegedly cheating the state-run PNB. Both Choksi and Modi have been booked in two cases each related to the bank fraud. The uncle-nephew duo had managed to flee the country in the first week of January days before the PNB was able to detect the fraud. The bank officials also fraudulently issued foreign letters of credit or FLCs in which the PNB guaranteed payment on behalf of the accused to their suppliers which was to be recovered from the firms of Choksi and Nirav Modi, they alleged. Funds raised through LoUs were meant to be used for the payment of import bills of the accused companies whereas it was dishonesty and fraudulently utilised for discharging the earlier liabilities on account of buyer’s credit facilities in a kind of roll over of payments, they alleged. The PNB has alleged in its complaint that they opened the Letters of Credit initially for smaller amounts by creating purported entries in the core banking system, they said. The accused bank officials pursuant to the conspiracy unauthorisedly enhanced the values of the FLCs and issued amendments to the FLCs issued through SWIFT which were encashed in overseas branches of Indian banks. According to the RBI guidelines, LoUs for gems should not be valid for more than 90 days. The CBI had approached the Interpol with a request for issuing ‘Diffusion Notice’ which was aimed at locating an individual.

PNB scam: Non-bailable warrants issued against Nirav Modi, Mehul Choksi on CBI plea

A non-bailable warrant has been issued against Nirav Modi and Mehul Choksi in the multi-billion dollar PNB scam. According to reports, a special CBI court in Mumbai court allowed CBI's application for issuing a non-bailable warrant against both the accused.&nbsp;

The Central Bureau of Investigation on Friday questioned a former Deputy Governor of the Reserve Bank, HR Khan, in connection with alleged Punjab National Bank fraud case worth Rs 12,600 crores (1.9 billion) and relaxation of gold import policy by the erstwhile UPA government, sources said today.

Also read:<a href="http://www.wionews.com/india-news/worst-behind-us-will-be-out-of-nirav-modi-mess-in-6-months-pnb-md--129125">&nbsp;Worst behind us, will be out of Nirav Modi mess in 6 months: PNB MD</a>

The CBI&nbsp;recently questioned three Chief General Managers and one General Manager of the Reserve Bank of India (RBI), officials said.

Nirav Modi and Mehul Choksi have been accused of defrauding banks by raising loans from overseas branches of Indian lenders using Rs 12,600 crores of fraudulent guarantees issued by rogue Punjab National Bank staff at a Mumbai branch.

The fraud, which is being investigated by the CBI and other enforcement agencies, is the biggest in the country's banking history.&nbsp;

The CBI recently questioned three Chief General Managers and one General Manager of the Reserve Bank of India (RBI)

A non-bailable warrant has been issued against Nirav Modi and Mehul Choksi in the multi-billion dollar PNB scam. According to reports, a special CBI court in Mumbai court allowed CBI's application for issuing a non-bailable warrant against both the accused. The Central Bureau of Investigation on Friday questioned a former Deputy Governor of the Reserve Bank, HR Khan, in connection with alleged Punjab National Bank fraud case worth Rs 12,600 crores (1.9 billion) and relaxation of gold import policy by the erstwhile UPA government, sources said today. Also read: Worst behind us, will be out of Nirav Modi mess in 6 months: PNB MD The CBI recently questioned three Chief General Managers and one General Manager of the Reserve Bank of India (RBI), officials said. Nirav Modi and Mehul Choksi have been accused of defrauding banks by raising loans from overseas branches of Indian lenders using Rs 12,600 crores of fraudulent guarantees issued by rogue Punjab National Bank staff at a Mumbai branch. The fraud, which is being investigated by the CBI and other enforcement agencies, is the biggest in the country's banking history.

PNB scam: CBI issues non-bailable warrant against Nirav Modi, Mehul Choksi

A close associate of Nirav Modi and a top official of his firm Shyam Sunder Wadhwa has been arrested by the Enforcement Directorate in a money laundering case under PMLA.

Shyam Sunder Wadhwa, vice president of Firestar Group was arrested, the agency said.

Nirav Modi is key accused in Rs. 14,500 crore Punjab National Bank scam.

Last month, the ED had attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in action against the beleaguered jeweller.&nbsp

The properties sealed included 10 offices, including two in Lower Parel worth around Rs 80 crore, six houses and two flats in Pune, all of which are registered in Nirav Modi’s name, in the name of his family members or companies or the Nirav Modi Trust.

Modi and Choksi and others are being investigated by multiple probe agencies after the PNB scam came to light following a complaint by the bank that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore but the amount involved was later revised to Rs 13,900 crore as more such transactions came to light.

The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI first information report.

ED arrested Shyam Sunder Wadhwa, Vice President, Finance, of Firestar Group and a close associate of absconding diamantaire Nirav Modi under PMLA

A close associate of Nirav Modi and a top official of his firm Shyam Sunder Wadhwa has been arrested by the Enforcement Directorate in a money laundering case under PMLA. Shyam Sunder Wadhwa, vice president of Firestar Group was arrested, the agency said. Nirav Modi is key accused in Rs. 14,500 crore Punjab National Bank scam. Last month, the ED had attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in action against the beleaguered jeweller. The properties sealed included 10 offices, including two in Lower Parel worth around Rs 80 crore, six houses and two flats in Pune, all of which are registered in Nirav Modi’s name, in the name of his family members or companies or the Nirav Modi Trust. Modi and Choksi and others are being investigated by multiple probe agencies after the PNB scam came to light following a complaint by the bank that they had allegedly cheated the nationalised bank to the tune of Rs 11,400 crore but the amount involved was later revised to Rs 13,900 crore as more such transactions came to light. The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI first information report.

PNB scam:  ED arrests Shyam Sunder Wadhwa, close associate of Nirav Modi

Union minister Vijay Goel will meet key opposition leaders at their residence in an effort to break the logjam in Parliament, which has been paralysed for 14 days due to protests by various parties.

The government is willing for a discussion on no-confidence motions against it and enjoys a strong majority in the Lok Sabha, Goel, who is Minister of State for Parliamentary Affairs, said on Thursday, wondering why the opposition leaders were debating on television and not in the House.

Goel said he will be visiting key leaders of opposition parties, including the Congress, AIADMK, TDP and TRS, to persuade them to call off their protests, which have resulted in a washout of Parliament&#39;s proceedings since March 5 when it met after a recess to continue the Budget session.

At a press conference, Goel noted that over Rs 2.5 lakh is spent per minute in running Parliament, and asked opposition parties to raise their issues and debate them in the two Houses.

The second leg of the Budget Session is of 23 days and all 14 days so far have been wasted, Goel said.

&quot;I have been meeting opposition leaders in Parliament and will now visit their homes to persuade them to call off their protests and start discussion on their issues&quot; in the two Houses, he said.

On issues like the PNB scam, the government has more to tell the people than the opposition, he claimed and said the Modi government has been an honest dispensation which has worked against corruption.

&quot;Parliament is meant for debate. It is sad that opposition leaders can debate outside and on TV channels but not in Parliament. It is also strange for some of them to keep protesting in the Well of the two Houses and then say that it is the government&#39;s job to run them,&quot; he said.

Arjun Ram Meghwal, who is also a junior minister for parliamentary affairs, said it is difficult for the Speaker to take up notices for no-confidence motions as long as members are present in the Well as she is required to do a head-count of members supporting the notices.

The Telugu Desam Party (TDP) and the YSR Congress have given notices for no confidence motion against the government following the Centre&#39;s stand that it cannot provide special category status to Andhra Pradesh.

Several parties have been protesting in the Lok Sabha and the Rajya Sabha over various of issues such as banking scam, Cauvery board, special status to Andhra Pradesh and quota hike, leading to daily adjournments.

A large number of bills, including on triple talaq, whistleblower protection and OBC Commission, are pending in Parliament. The Lok Sabha passed the crucial Finance Bill without any discussion. A couple of other bills have also been pushed in the two houses amid the din.&nbsp;

Union minister Vijay Goel will meet key opposition leaders at their residence in an effort to break the logjam in Parliament, which has been paralysed for 14 days due to protests by various parties

Union minister Vijay Goel will meet key opposition leaders at their residence in an effort to break the logjam in Parliament, which has been paralysed for 14 days due to protests by various parties. The government is willing for a discussion on no-confidence motions against it and enjoys a strong majority in the Lok Sabha, Goel, who is Minister of State for Parliamentary Affairs, said on Thursday, wondering why the opposition leaders were debating on television and not in the House. Goel said he will be visiting key leaders of opposition parties, including the Congress, AIADMK, TDP and TRS, to persuade them to call off their protests, which have resulted in a washout of Parliament's proceedings since March 5 when it met after a recess to continue the Budget session. At a press conference, Goel noted that over Rs 2.5 lakh is spent per minute in running Parliament, and asked opposition parties to raise their issues and debate them in the two Houses. The second leg of the Budget Session is of 23 days and all 14 days so far have been wasted, Goel said. "I have been meeting opposition leaders in Parliament and will now visit their homes to persuade them to call off their protests and start discussion on their issues" in the two Houses, he said. On issues like the PNB scam, the government has more to tell the people than the opposition, he claimed and said the Modi government has been an honest dispensation which has worked against corruption. "Parliament is meant for debate. It is sad that opposition leaders can debate outside and on TV channels but not in Parliament. It is also strange for some of them to keep protesting in the Well of the two Houses and then say that it is the government's job to run them," he said. Arjun Ram Meghwal, who is also a junior minister for parliamentary affairs, said it is difficult for the Speaker to take up notices for no-confidence motions as long as members are present in the Well as she is required to do a head-count of members supporting the notices. The Telugu Desam Party (TDP) and the YSR Congress have given notices for no confidence motion against the government following the Centre's stand that it cannot provide special category status to Andhra Pradesh. Several parties have been protesting in the Lok Sabha and the Rajya Sabha over various of issues such as banking scam, Cauvery board, special status to Andhra Pradesh and quota hike, leading to daily adjournments. A large number of bills, including on triple talaq, whistleblower protection and OBC Commission, are pending in Parliament. The Lok Sabha passed the crucial Finance Bill without any discussion. A couple of other bills have also been pushed in the two houses amid the din.

Union minister Vijay Goel to reach out to opposition leaders to break Parliament logjam

Fugitive diamond merchant Mehul Choksi has written to the CBI in reply to the notice the investigating agency had sent him.&nbsp;

In his reply, Choksi has said he is &quot;not making any excuse whatsoever to travel to India&quot;.&nbsp;

The CBI had earlier said that Choksi and his nephew Nirav Modi, who has become the face of the Rs 14,000 crore PNB scam, are refusing to cooperate with it in its investigation into the scam.&nbsp;

&quot;Regional Passport Office hasn&#39;t communicated with me and my passport remains suspended. I have deepest respect for your offices and assure you that I am not making any excuse, whatsoever, to travel to India,&quot; Choksi wrote to the CBI.&nbsp;&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
I reiterate that I am abroad &amp; have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself &amp; blow every issue out of proportion: <a href="https://twitter.com/hashtag/MehulChoksi?src=hash&amp;ref_src=twsrc%5Etfw">#MehulChoksi</a> to CBI
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/975943998203420672?ref_src=twsrc%5Etfw">March 20, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

&quot;I further inform that requiring me to join investigation, though leaving me helpless and information-less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless,&quot; he added.&nbsp;

He did however also add that he will not yet be travelling to India.&nbsp;

&quot;I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of business in India due to untenable allegations. Further I am unable to travel to India due to my persisting health condition,&quot; he added.&nbsp;

 
&nbsp;

The fugitive diamond merchant however added that he will not yet be travelling to India

Fugitive diamond merchant Mehul Choksi has written to the CBI in reply to the notice the investigating agency had sent him. In his reply, Choksi has said he is "not making any excuse whatsoever to travel to India". The CBI had earlier said that Choksi and his nephew Nirav Modi, who has become the face of the Rs 14,000 crore PNB scam, are refusing to cooperate with it in its investigation into the scam. "Regional Passport Office hasn't communicated with me and my passport remains suspended. I have deepest respect for your offices and assure you that I am not making any excuse, whatsoever, to travel to India," Choksi wrote to the CBI. I reiterate that I am abroad & have earlier also responded to your notices. Surprisingly, the issues raised remain unaddressed, making my fear of safety rise to extreme levels. Media continues to conduct a trial by itself & blow every issue out of proportion: #MehulChoksi to CBI — ANI (@ANI) March 20, 2018 × "I further inform that requiring me to join investigation, though leaving me helpless and information-less, by various actions taken by multiple agencies is unfair. The manner in which the allegations have been exaggerated has left me completely defenceless," he added. He did however also add that he will not yet be travelling to India. "I am extremely held up in my business abroad and am working hard to resolves the issues it is facing due to the unnecessary closure of business in India due to untenable allegations. Further I am unable to travel to India due to my persisting health condition," he added.

Not making any excuse whatsoever to travel to India: Mehul Choksi to CBI

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