A team of Enforcement Directorate officials was in Singapore to seek cooperation in investigations into the Punjab National Bank fraud cases involving fugitive diamond merchants Nirav Modi, Mehul Choksi and their relatives.
The agency suspected that some bank accounts in Singapore were used by Mr. Modi and his associates for money laundering. He had set up an outlet there.
The Directorate was probing the role of a Singapore-based company whose beneficiary owner was alleged to be Mr. Modi’s sister, Purvi Mehta. Her financial dealings were also being scrutinised under the Prevention of Money Laundering Act.
Mr. Modi’s company Firestar International had received funds to the tune of ₹271 crore from the company Islington International Pte Ltd, it was alleged. The agency suspected that he had also attempted to get permanent residency in Singapore.
In another development, the Interpol Washington had informed the Indian agencies that Mr. Choksi was currently not in the United States.
On the request of investigating agencies, the Interpol had already issued Red Notices against Mr. Modi.
