. Non-bailable warrant against PNB scam accused Nirav Modi
A special court in Mumbai as issued non-bailable warrants against Nirav Modi and his family members.
The court is the special Prevention of Money Laundering Act -PMLA court and is hearing the case related to Punjab National Bank scam.
Nirav modi is accused of money-laundering in the Punjab National Bank scam. The
Nirav Deepak Modi is a businessman and the founder of famous diamond jewellery company Firestar Diamond International and the brand Nirav Modi.
Nirav’s company is accused of cheating the PNB bank of Rs 6,498.20 crore using fake documentation. Choksi has committed the fraud of Rs 7080.86 crore, making it the biggest banking scam in the country.
Before the investigation in the case started, Nirav managed to flee the country and is reported to be in London at present.
His uncle Mehul Choksi also fled the country in the first week of January 2018.
So far, both Choksi and Modi have refused to cooperate with the authorities in the investigation being carried out by the CBI in India.
Indian authorities have started the extradition process to bring Nirav back to India.