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PNB scam: ED attaches 41 properties of Mehul Choksi

05 March 2018

Joshi, who was committed to judicial custody by the Mumbai court along with four other PNB officials and an associate of Modi, could not be contacted for comment. "We sought the NBW on the ground that Modi was not cooperating with the agency in the investigations".

The agency has also asked about 16 other banks, apart from the Punjab National Bank, to share with it the details of loans extended and collaterals offered in the case of Modi, Choksi and their companies. An ED court issued non-bailable arrest warrants against the two today. He added that the agency received replies from Nirav for two summonses.

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Taking cognizance of media reports about the PNB fraud by accused diamantaire Nirav Modi and his uncle Mehul Choksi, the Financial Services Commission (FSC) of Mauritius has said in a statement that it is in constant communication on the matter "with its worldwide counterparts under existing exchange of information agreements". "He neither responded to those summonses nor appeared before the agency". He said the summonses were issued on February 15, February 17 and February 22, asking him to appear before the ED on February 16, February 22 and February 26, respectively. In response to the second summons, Nirav Modi said he can not appear before the agency owing to his business commitments.

The National Company Law Tribunal (NCLT) has restrained over 60 companies, including those belonging to Rs 12,600-crore PNB fraud accused Nirav Modi and his uncle Mehul Choksi, from selling their assets, according to a government announcement on Sunday.

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In response to the second summons, Nirav said he can not appear before the agency owing to his business commitments. The PNB had earlier put the defrauded amount at Rs 11,394.02 crore (USD 1.77 billion).

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Shares of Gitanjali Gems plunged further on Thursday and settled with losses of over 5% after the Enforcement Directorate (ED) said it has attached 41 properties, valued at over Rs1,200 crore, in connection with the PNB fraud case.

PNB scam: ED attaches 41 properties of Mehul Choksi