A special CBI court in Mumbai on Sunday issued non-bailable warrant against billionaire jewellers Nirav Modi and Mehul Choksi in the cases related to Punjab National Bank scam. The NBW was issued on the request of the probe agency as both Modi and Choksi had repeatedly refused to join the investigation in the scam, a CBI spokesperson said.
Both Modi and Choksi are being investigated by multiple probe agencies after the PNB disclosed a fraud, worth over Rs 13000 crore, wherein they allegedly acquired fraudulent letters of undertaking (LoUs) for overseas credit from other lenders. While Modi runs a jewellery brand chain under his name, Choksie is the promoter of Gitanjali Gems.
Credit: indianexpress.com
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