PNB attributes recent additional Rs 1300 cr fraud to Gitanjali

The corporate affairs ministry is seeking the help of the CBDT to ascertain the assets of Nirav Modi Mehul Choksi and other related parties

State-run lender Punjab National Bank on the other hand on Monday added another Rs1,251 crore loan fraud involving Gitanjaly Gems, a company belonging to Nirav Modi's uncle Mehul Choksi.

The official said Mishra was responsible for auditing procedures and practices followed in the PNB branch and report them.

Besides, more than two dozen banks have made a decision to seek a forensic audit to establish if Mehul Choksi-led Gitanjali Gems has also indulged in fraud.

With Mishra's arrest, the total number of those who were apprehended by the CBI rose to 14.

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The agencies may also try other extradition processes to bring Nirav Modi back to India to join the probe and cooperate in the investigation of one of the biggest bank fraud in the country.

CBI had emailed the summons to Modi last month and asked him to appear for an interrogation.

To date, 12 persons have been arrested by the CBI in connection with the case.

The billionaire jeweller has refused to join the probe citing his business engagements.

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Meanwhile, in its further attempt, the CBI and law enforcement agencies are mulling options to contact Interpol and issue a red corner notice against Nirav Modi.

The attached assets include 17 offices and 15 floors in Mumbai, a shopping mall in Kolkata, a four-acre farm in Alibaug and 231 acres of land in locations such as Nasik, Nagpur, Panvel and Villupuram in Tamil Nadu, along with 170 acre park in Hyderabad's Ranga Reddy district valued at over Rs 500 crore.

The LoUs were issued on behalf of Diamond R US, Solar Exports, Stellar Diamonds.

Modi and his uncle Choksi, owner of Gitanjali Gems Ltd, left the country in January before the fraud came to light, but have said in letters and statements they are innocent.

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Nirav Modi has refused to join the CBI investigation in the Dollars 2 billion fraud in Punjab National Bank citing his business engagements, prompting the agency to issue a stern letter today asking him to appear before it next week.

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