The ED has seized diamonds and other valuables to the tune of around Rs 5,700 crore from Modi’s jewellery outlets.
Mumbai: The Central Bureau of Investigation (CBI) has arrested two more employees of Nirav Modi’s group on Sunday in connection with the PNB fraud. The list of arrests on Sunday also includes a partner in the CA firm and a director of Gitanjali Group of Companies.
Manish K. Bosamiya, a former assistant general manager (operation) and Miten Anil Pandya, then finance manager of Firestarter International Ltd were arrested on Sunday. They were arrested for their alleged role in the preparation of applications for the fraudulent LOUs submitted to Punjab National Bank.
Sanjay Rambhia, a partner in CA firm M/s. Sampat and Mehta. Rambhia was also arrested in the ongoing investigation after his role was found.
The CBI also arrested Aniyath Shiv Raman Nair, then director of M/s. Gili India Ltd. He was arrested after it was found that besides being one of the directors of M/s.Gitanjali Group of companies, he was the authorised signatory for the applications made to PNB for the issuance of purported LOUs and FLCs.
Meanwhile, the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are conducting also crackdowns against Modi and his uncle Mehul Choksi for defrauding Punjab National Bank to the tune of over Rs 11,400 crores. Modi secured 143 fraudulent Letter of Undertakings (LOUs) from PNB asking the Hong Kong branches of Allahabad Bank and Axis Bank to release Rs 11,400 crore to Modi. The ED has seized diamonds and other valuables to the tune of around Rs 5,700 crore from Modi’s jewellery outlets.