In PNB scam, non-bailable warrants have been issued against Nirav Modi and Mehul Choksi on CBI request, PTI said on Sunday.
In a latest turn of events in the multi-crore PNB scam, non-bailable warrants have been issued against billionaire jewellers Nirav Modi and Mehul Choksi on CBI request, PTI reported on Sunday.
Earlier in the day, it was said that PNB has hired lawyers to represent itself in the bankruptcy proceedings of the US-based Firestar Diamond, a group company of billionaire diamantaire Modi.
"We have just engaged lawyers to represent our bank in the US bankruptcy petition as part of recovery process. If money has gone from our system and parked in that company, our bank's views should be heard before deciding about insolvency petition," PNB Managing Director Sunil Mehta told PTI in an interview.
Different investigating agencies, including CBI and Enforcement Directorate, are probing the fraud, dubbed as the biggest banking scam in the country.
PNB had issued as many as 1,590 LoUs to Nirav Modi, Mehul Choksi and their associates.
The total number of LoUs issued to the companies of Nirav Modi, his relatives and the Nirav Modi Group are 1,213, and to Mehul Choksi, his relatives and the Gitanjali Group are 377.
Last week, India had asked authorities in Hong Kong to arrest Nirav Modi, suggesting it believes the fugitive is in the Chinese territory.
The whereabouts of Modi and his uncle Mehul Choksi, the other person accused in India's biggest banking fraud at the country's second-largest state lender, have been unknown since the CBI launched an investigation in February.
"The ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region, People's Republic of China," junior foreign minister VK Singh told parliament on Thursday.
The passports of Modi and Choksi, who both left India before the scandal emerged, have been revoked.
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