PNB-Nirav Modi fraud case: CBI files charge sheet; names ex-chief, senior officials of bank

The charge sheet deals with the first FIR registered in the case relating to the fraudulent issuance over ₹6,000 crore of LoUs to Diamond R US, Solar Exports and Stellar Diamonds.

Updated - May 14, 2018 06:48 pm IST

Published - May 14, 2018 02:39 pm IST - New Delhi

 Nirav Modi

Nirav Modi

The Central Bureau of Investigation filed a chargesheet on Monday in the Nirav Modi and Punjab National Bank scam of over ₹13,500 crores.

The agency submitted its chargesheet before a special CBI court and named individuals from three firms belonging to Mr. Nirav Modi, namely, Solar export, Diamond R US and Stellar Diamonds.

The chargesheet also names PNB officials, executive directors K.V. Brahmaji Rao, Sanjiv Sharan, and general manager Nehal Ahad along with Usha Ananthasubramanian, the then CEO and MD of PNB and is currently at Allahabad Bank.


It names Mr. Nirav Modi as a ‘wanted accused’ and also does not name his wife, Ami, brother Nishal and uncle Mehul Choksi. 

On April 8, the court had issued non-bailable warrants (NBW) against Mr Nirav Modi and Mr. Choksi after they did not respond to two summons issued against them.

On March 3, the Prevention of Money Laundering Act court had issued a NBW against the two. The court had issued it after they did not respond to three summons issued to them and did not appear before the designated court.

Meanwhile, Mr. Nirav Modi’s close associate and vice-president of a firm Shyam Sunder Wadhwa is in judicial custody and Gokulnath Shetty, a retired deputy manager at PNB who is said to have facilitated the fraudulent LoUs’ issuance, is in Enforcement Directorate’s custody.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.