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ED files chargesheet against Nirav Modi, associates

Friday, May 25, 2018
By A Staff Reporter

PNB fraud

The 12,000 page chargesheet will be followed by another chargesheet against Mehul Choksi

The Enforcement Directorate (ED) filed its first chargesheet in the multi-crore Punjab National Bank (PNB) fraud case in a special court in the city yesterday against fugitive diamantaire Nirav Modi and his associates.

The 12,000 page chargesheet filed in a special Prevention of Money Laundering Act (PMLA) court is against Modi, his companies and associates and pertains to getting fraudulent Letters of Undertaking (LoU) issued by the PNB in connivance with some of its bank officials.

It details attachments the agency has made against the accused in the last few months after the FIR was registered in the case in February this year. Further, also the money laundering aspect of the alleged fraud and the role played by Modi and his associates in it are described.

This chargesheet will be followed by a second supplementary chargesheet against Modi's uncle and owner of Gitanjali Group, Mehul Choksi.

The CBI had recently filed separate chargesheets against Modi and Choksi in a CBI court in the city, in which top officials of the PNB had been named as accused.

Both Modi and Choksi had absconded a month before the alleged scam came to light. The CBI special court has issued non-bailable warrants against them both.

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