The Enforcement Directorate today issued summons for personal appearance to billionaire diamond merchant Nirav Modi and his business partner Mehul Choksi in connection with its money laundering probe in the Rs 11,400-crore alleged fraud at Punjab National Bank (PNB).
According to officials, both Modi and Choksi were summoned under the Prevention of Money Laundering Act (PMLA) and were asked to depose within a week’s time. The notices were handed over to the directors of the firms of the two businessmen as they were not in the country.
While Modi runs the jewellery brand chain under his name, Choksie is the promoter of Gitanjali Gems. ED had registered a PMLA case against them and others based on a CBI FIR based on PNB’s complaint.
ED had yesterday carried out multiple raids on the showrooms, workshops, offices and residences of Modi and Choksi and seized diamonds, jewellery and gold worth Rs 5,100 crore.
The agency was probing if the allegedly defrauded bank funds were laundered and these proceeds of crime subsequently used by the accused to create illegal assets and black money.
Modi, 46, a regular feature on the lists of rich and famous Indians since 2013, was booked by the CBI, along with wife, brother and Choksi on January 31, for allegedly cheating the state-run PNB to the tune of Rs 280 crore.
The bank has sent two more complaints to CBI on Tuesday, saying the scam was worth more than Rs 11,400 crore. CBI had earlier raided the residences of Modi, his brother, wife and Choksi, all partners of Diamond R US, Solar Exports and Stellar Diamonds and two bank officials -- Gokulnath Shetty (now retired) and Manoj Kharat, who were also named in the FIR as accused.
“The public servants committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and a wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017,” the CBI FIR has alleged.
The jewellery designer is a citizen of the country but his brother Nishal and wife Ami are not Indian nationals. They all left India between January 1 and 6, CBI said.