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.

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.

Also Read

A SWIFT autopsy : How Nirav Modi defrauded PNB

 

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.