Businessman Mehul Choksi, the owner of Gitanjali Gems and an accused in the Rs 11,300 crore Punjab National Bank fraud case against Nirav Modi, reached out to his employees in an open letter on Saturday, proclaiming his innocence without disclosing his location.
The CBI is questioning the top brass of the state-run Punjab National Bank, including managing director and chief executive officer Sunil Mehta and executive director Brahmaji Rao, in the banking scandal case.
Since PNB disclosed the fraud last week the bank, auditors and the Reserve Bank of India have been under scrutiny over how they could have failed to detect a scam of such proportions.
The CBI and the ED have registered two FIRs each to probe the case.
The assets include a farm house in Alibaug (Rs 42.70 crore) near Mumbai seashore, a solar power plant spread over 53 acre of land in Ahmednagar in Maharashtra (Rs 70 crore) and another 135 acre land in Ahmednagar (Rs 2.20 crore), along with other residential and office properties worth Rs 408.82 crore in Mumbai and Pune.
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LMP says she's $16 million in the hole , and can't afford to pay Lockwood's attorney's fees - but Lockwood ain't buying it. In the mid-2000s, that seemed like a very solid investment, but Core Entertainment went bankrupt in 2016.
Official sources said the agency will approach a competent court in Mumbai with a request to obtain Letters Rogatories (LRs) to be sent to about 15-17 countries where the central investigation agency has traced the footsteps of the diamond and gold jewellery businesses of the firms owned by Modi, his uncle Choksi and others associated with them.
At the same time the Enforcement Directorate (ED) attached 21 immovable properties worth Rs 523.72 crore of Nirav Modi and companies under the Prevention of Money Laundering Act ( PMLA). The case against three directors of the company including Kothari and others was filed on a complaint received from Bank of Baroda. The Ministry of Corporate Affairs (MCA) is said to have also moved the NCLT for the attachment of assets belonging to Modi's wife Ami Modi, and brother Neeshal.
India's federal police have arrested some half a dozen bank officials, including the two junior Mumbai officials, as well as employees of companies controlled by Modi and Choksi.
The agency is also trying to ascertain that whether these officers were in touch with Modi and Choksi or not or whether they met him in their headquarters or not.
Modi, who had a chain of boutique stores from NY to Beijing, and his uncle Mehul Choksi are both accused of perpetrating the biggest loan fraud in Indian banking history and are both out of the country.