CBI grills PNB top brass; Nirav Modi & Mehul Choksi's passports revoked

CBI on Saturday questioned Punjab National Bank's Managing Director and CEO Sunil Mehta and its Executive Director K V Brahmaji Rao in connection with the Rs 11,400 crore PNB scam while the passports of diamantaire Nirav Modi and owner of Gitanjali Gems Mehul Choksi, the main accused in the Rs 11,400 crore PNB scam, were revoked by the government.

At the same time the Enforcement Directorate (ED) attached 21 immovable properties worth Rs 523.72 crore of Nirav Modi and companies under the Prevention of Money Laundering Act ( PMLA). The attached assets include a farm house in Alibag, Solar Power Plant, 135-acre land in Ahmednagar and six residential and 10 office properties in Mumbai and Pune. ED stated that the total assets seized in this case are now over Rs 6,393 crore.

According to the CBI, the agency questioned Mehta and Rao in connection with the case. "Mehta and Rao were called for questioning to seek clarification about the fraud.

The questioning happened in Mumbai," said CBI officer. While Rao has held the chair since January 2014, Mehta has been at the post since May 2017.

The agency is also trying to ascertain that whether these officers were in touch with Modi and Choksi or not or whether they met him in their headquarters or not. The agency after arresting a top employee — Vipul Ambani — of Modi's company found that Modi was in direct touch with top bank officers. The agency on Tuesday arrested Ambani, Vice President finance , Kavita Mankikar, Executive Assistant, and Arjun Patil, senior executive of Firestar Diamond International Private Limited. The agency has also arrested PNB serving and retired bank officials and also Geetanji group employees. Ambani is a close relative of late Dhirubhai Ambani and is working in Firestar since 2013.

The top brass of the bank is being questioned just three days after the CBI quizzed three dozen officials of the bank and arrested a bank general manager, in the case, including six, serving and retired, PNB officials, who are being confronted with the documents recovered in the searches.

As far as revoking the passports of Choksi and Modi is concerned, External Affairs Ministry had on the advice of the Enforcement Directorate (ED) suspended the validity of the passports of Modi and Choksi with immediate effect for a period of four weeks on February 16 and given one week's time to them to respond as to why their passports should not be impounded or revoked.

"Since they have not responded so far, their passports have been revoked. Future course of action will be taken on the advice of the investigation agencies," MEA sources said.

On the other hand, the ED attached six residential and 10 office properties in Mumbai, two flats in Pune, a farmhouse in Alibaug, a solar power plant and a 135-acre land in Karjat- all properties of Nirav Modi and the companies controlled by the billionaire jeweller.

Officials said that it has issued a provisional order for attachment of the assets, under the PMLA and seized a Rs 81.16 crore valued penthouse and a flat worth Rs 15.45 crore in the sea-facing Samudra Mahal apartments in the Worli area of Mumbai.

"Also 21 immovable properties of Modi and companies controlled by him, with a market value of Rs 523.72 crore, have been provisionally attached. These include six residential properties, ten office premises, two flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat in Ahmednagar district," the ED officials said.

A farmhouse and adjoining land, worth over Rs 42.70 crore, in the Kihim area of beach-side Alibaug of the Nirav Modi Trust has also been attached.

Similarly, a 53-acre solar power plant, valued at Rs 70 crore, in the Karjat area of Ahmednagar district of the state has also been brought under the same action. Two office properties, worth about Rs 80 crore, in the name of Mark Business Enterprises Private Limited in the Lower Parel area of Mumbai have also been attached.

Before that, the ED had frozen shares and mutual funds worth Rs 100 crore Modi and promoter of Gitanjali Group Mehul Choksi in connection with the case. At least nine luxury cars, belonging to Modi, were also seized as part of the investigation under PMLA.