In March, the Mumbai DRI had registered the case against Modi and his firms based in the Surat Special Economic Zone for allegedly selling diamonds and pearls worth Rs 890 crore, meant for export, in the domestic market.
The records the CBI provided to the Interpol included the non-bailable warrants issued by a Mumbai special court and the details of the charge sheets filed in the case etc. The documents were found in order and have satisfied the Lyon-based international police cooperation agency which is "processing" the CBI's request, they said.
The government is strengthening laws to deal with absconding economic offenders such as Nirav Modi, Mehul Choksi and Vijay Mallya and aggressively pursuing cases against them in courts abroad, Law Minister Ravi Shankar Prasad said today.
The potential cyber security breach could compromise investigation into the Nirav Modi case
Modi has been traced to Belgium by Indian intelligence agencies and his frequent travels, despite the revocation of his passport, have led the sleuths to unearth six passports that he held.
The CBI has begun the process of filing an extradition request for Nirav Modi, which will then have to be approved by the UK Home Office following which an extradition warrant can be issued.
The erosion of capital can be primarily be attributed to over Rs 14,000 crore farud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of PNB for overseas credit.
Modi, who is reportedly in the UK attempting a political asylum, and Choksi, promoter of Gitanjali group whose whereabouts are unknown as yet, are on the run since the CBI registered an FIR against them on January 31.
The CBI, in its charge sheets filed on May 14, had alleged that Nirav Modi, through his companies, siphoned off funds to the tune of Rs 6,498.20 crore using fraudulent LoUs issued from PNB's Brady House branch in Mumbai. Choksi allegedly swindled Rs 7080.86 crore, making it possibly the biggest banking scam in the country, it alleged.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating PNB, the country's second largest lender, to the tune of more than Rs 13,000 crore.
Punjab National Bank, India's second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.
The move comes as the agency is planning to file a Red Corner Notice against Nirav Modi and Mehul Choksi
CBI Joint Director Rajiv Singh, who is overseeing a probe into the USD 2 billion PNB scam allegedly involving diamantaires Nirav Modi and Mehul Choksi, has been prematurely repatriated to his home cadre of Tripura.
The ED chargesheet filed Thursday also details the attachments made by the agency against Modi and his associates in the last few months after it first registered an FIR in the PNB fraud case. It focuses on the money laundering aspect and the role of Nirav Modi and others in perpetrating the alleged fraud, a senior official said.
The central probe agency here said it issued a provisional order under the Prevention of Money Laundering Act (PMLA), attaching four commercial premises -- with the market value of Rs 72.87 crore -- in Mumbai and Surat, 106 bank accounts holding Rs 55.12 crore of deposits, 15 demat accounts containing Rs 35.86 crore, and 11 cars valued Rs 4.01 crore.
Modi along with his wife Ami, a US citizen, brother Nishal a Belgian, and uncle Choksi, Gitanjali group's promoter, had fled the country before the bank approached the CBI with a complaint against his companies for allegedly cheating through fraudulent issuance of Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs).
Gandhi, who was addressing a rally of farmers and tribal people at Sitapur in Chhattisgarh, promised a farm loan waiver across the country if the Congress returned to power in 2019.
The veteran banker has been named in the CBI chargesheet relating to the Rs 13,000 crore-plus fraud at Punjab National Bank which she headed earlier as CEO
Provisions for the quarter trebled to Rs 16,202 crore, from Rs 5,753.3 crore in March quarter 2017.
Punjab National Bank, which is at the centre of a near Rs 13,000 crore fraud involving jewellers Nirav Modi and Mehul Choksi, is set to report a loss of Rs 3,908.6 crore for the fourth quarter ending March 2018, as per Reuters poll estimates.
Set for superannuation on September 30, 2018, the former PNB chief CEO and managing director currently heading Allahabad Bank, will soon be on her way out much earlier
CBI has filed a chargesheet against former PNB managing director and CEO Usha Ananthasubramanian in relation to the transactions done by the bank with Nirav Modi
Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017 and was questioned recently by the CBI in connection with the case.
These numbers suggest that right after the scam came to light, other jewellers used up their existing credit limits to escape the methods that banks employed for self-protection
For the full financial year, the bank reported a net loss of Rs 5,871.74 crore. It had registered a net loss of Rs 1,094.07 crore in the preceding 2016-17 fiscal.