107 firms linked to Nirav Modi under scanner

The Serious Fraud Investigation Office is probing 107 companies and seven Limited Liability Partnerships linked to Nirav Modi and his uncle Mehul Choksi groups in connection with the nearly ₹12,700-crore Punjab National Bank scam, according to the government.

In a written statement, the Corporate Affairs Ministry on Friday informed Parliament that it had petitioned the Mumbai bench of the National Company Law Tribunal against the individuals, groups and entities belonging to Mr. Modi and Mr. Choksi.

Accordingly, the Tribunal has passed an injunction against the removal, transfer or disposal of their funds, assets and properties until further orders

After the Central Bureau of Investigation and the Enforcement Directorate registered cases against Mr. Modi and his uncle, letters of request have been sent to 13 countries seeking information on their assets overseas. Non-bailable warrants against them have also been issued by the court on ED’s request.

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Printable version | Sep 25, 2022 1:50:30 pm |