A bench of Justices S Muralidhar and I S Mehta issued notice to the ED on Firestar Diamond International Private Ltd's plea seeking direction to the agency to supply it several documents, including a copy of the search warrants.
It is alleged that Choksi and Nirav Modi got LoUs and Foreign Letters of Credit issued of Rs 12,636 cr
The contract’s term ends later this year, but Kohli’s agency has assured that the contract wouldn’t be terminated before it ends.
The agency is also investigating plans by the two to list companies.
PNB’s current and savings’ account (CASA) deposits stood at Rs 2.67 lakh crore.
Billionaire diamantaire Nirav Modi and his uncle Mehul Choksi are accused in the nearly Rs 12,700-crore alleged fraud at Punjab National Bank.
The agency has arrested two employees and an auditor of the Nirav Modi group of companies, while a director of the Gitanjali group of companies owned by Choksi has also been taken into custody, they said.
A private sector banker closely associated with the activity echoed the same, saying lenders have taken a "cautious" approach in the aftermath of the largest financial fraud in the history of the nation.
Modi, against whom a special court today issued a non-bailable warrant (NBW), wrote two letters to the Enforcement Directorate (ED) in response to summonses last month.
The court, set up under the Prevention of Money Laundering Act (PMLA), issued the NBWs on applications filed by the Enforcement Directorate (ED), one of the agencies probing the bank fraud cases registered last month.
The bank found out these accounts after internal scrutiny and said that these accounts are not directly related to the PNB fraud but may help in the investigation.
Officials said the searches were carried out after information surfaced during questioning of some arrested accused and others persons.
The government, stung by the twin absconding cases of Nirav Modi and Vijay Mallya, would be hoping for a smooth passage of the Bill in the two Houses.
Protesting while wearing the glittering pieces of jewellery may have reduced the brand value of the celebrities.
As per the banking sector agenda approved at the PSB Manthan in November last year, public sector banks (PSBs) have to examine all 216 overseas operations.
More than 1,400 employees of the bank were transferred.
The report did not specify the name of the company which was due for an IPO.
Firestar Diamond Inc filed for bankruptcy protection on February 26 in the United States, following accusations that other firms led by Modi and his uncle colluded with officials of Punjab National Bank to secure unauthorised loans starting 2011.
Besides, more than two dozen banks have decided to seek a forensic audit to establish if Mehul Choksi-led Gitanjali Gems has also indulged in fraud.
The department said it has also got issued a Look Out Circular (LoC), also known as a blue corner notice, against Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems, to keep a tab on their entry at all land, air and sea ports in the country.
Meanwhile, the CBI has arrested PNB's internal chief auditor M K Sharma-- a chief manager-ranked official-- in connection with the case, they said, adding that it is the first arrest of any auditor of the bank.
Care Ratings highlighted adverse impact of scam on developments in international trade and domestic revenue.
On February 14, PNB had detected the fraud wherein billionaire jeweller Nirav Modi and associates allegedly cheated the bank by acquiring fraudulent letters of undertaking (LoUs) from one of its branches for overseas credit from other Indian lenders.
ICICI Bank's Executive Director NS Kannan was questioned by the Central Bureau of Investigation (CBI) on Tuesday, in connection with the Punjab National Bank (PNB) scam, now worth Rs 12,700 crore.
The CBI has questioned two statutory auditors of the bank on Tuesday, after quizzing three others the day before. RBI-appointed auditors to the bank also under the lens of other investigating agencies.