Tuesday, March 20th, 2018
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PNB scam: ED seeks non-bailable warrant against Nirav Modi, CBI questions Allahabad Bank MD

28th February 2018   ·   0 Comments

Mumbai/New Delhi: Diamond trader Nirav Modi, a key accused in the alleged Punjab National Bank (PNB) fraud which is now pegged at close to $2 billion, on Tuesday faced more heat with the Enforcement Directorate (ED) moving a court for a non-bailable warrant (NBW) and another court issuing summons to him in a tax evasion case.

As Nirav Modi’s international jewellery business Firestar Diamond filed a bankruptcy plea in the US, officials said the CBI questioned the CEO and the MD of Allahabad Bank Usha Ananthasubramanian in the Punjab National Bank (PNB) fraud case that allegedly involved him and his uncle Mehul Choksi. Ananthasubramanian was the Managing Director and the CEO of PNB since 14 August, 2015 before being appointed in Allahabad Bank on 6 May, 2017.

In Mumbai, Special PMLA Court Judge M S Azmi heard the arguments of Enforcement Directorates(ED) special counsel Hiten Venegoankar on the agencys plea seeking issuance of the NBW against Nirav Modi who is believed to be in the US.

Venegoankar told the court the ED registered a case against Nirav Modi on 15 February and from that time issued three summonses to him to appear before the agency.

He said the summonses were issued on 15 February, 17 February and 22 February, asking him to appear before the ED on 16 February, 22 February and 26 February, respectively.

The ED lawyer said Nirav Modi did not appear before the agency for questioning and hence it has sought issuance of an NBW was against him.

A local court in Mumbai issued summons against Nirav Modi in connection with an income tax evasion probe against him and his companies, officials said.

They said the court of Additional Chief Metropolitan Magistrate issued the summons and asked Nirav Modi to appear before it on March 12.


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