PNB fraud case: Non-bailable warrants issued against Nirav Modi, Choksi

Mehul Choksi

Mehul Choksi

The CBI also produced other 6 accused in the fraud before a special court seeking police custody for Gokulnath Shetty and judicial custody for the remaining five.

"The lightning speed in which the authority has acted clearly shows that the action itself was pre-determined and my fate was already decided, without even considering my reply and without any regard to law", Modi told ED in an e-mail reply.

The state lender in January uncovered the alleged fraud in which several bank officials were suspected of colluding with jeweller Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertakings (LoUs), for their companies to raise loans from overseas branches of mostly Indian banks.

A Mumbai court has remanded Mishra to CBI custody till 14th March in connection with its money laundering probe into the PNB scam.

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According to CBI, Mishra who was working as the Internal Chief Auditor was responsible for concurrent audit for the year 2011-2015 at the PNB's Brady House branch in Mumbai.

Meanwhile, the PNB filed a second complaint with the CBI on February 13. The multi-crore fraud is being jointly investigated by Central Bureau of Investigation (CBI) and ED.

The development comes after the Enforcement Directorate (ED) on February 27 moved the PMLA court for issuing the NBWs after the duo failed to honour three summonses and appear before the agency for questioning on February 15, 17, and 23.

The agency had told the court that it had issued three summonses to Modi to appear before it.

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