Cong didn't do what was needed, we're doing it: Sitharaman on PNB fraud

New Delhi: Defence Minister Nirmala Sitharaman on Saturday said that the entire might of the Government has been invoked to pin the "culprit" Nirav Modi in the Rs 11,000-crore PNB fraud case.

Accusing the then ruling government, Congress of not acting against the offenders, Sitharaman said that on September 13, 2013, party president Rahul Gandhi attended a promotional event of Mehul Choksi's Gitanjali Gems even after the company was suspended for 6 months from doing business on NSE in the same year.

"The Congress didn't do what it was required... We are doing it," Sitharaman said.

Sitharaman asked the Congress to explain the circumstances under which the Allahabad Bank official Dinesh Dubey was forced to resign.

Nirmala Sitharaman also accused Congress leader Abhishek Manu Singhvi's wife and son of holding stocks in Fire Star Diamond I’nal Pvt Ltd- a company run by Nirav Modi. “Fire Star Diamond I’nal Pvt Ltd is one of the companies that Nirav Modi runs. They’ve taken on lease property which belongs to Advait Holding Ltd in Trade Point Building in Lower Parel. From 2002 Anita Singhvi is one of the shareholders. You know who’s wife she is,” said the minister.

The Union minister added, "And also has Avishkar Manas Singhvi, possibly his (Abhishek Manu Singhvi) son. But wife of one of the senior Congress leaders is here as a property shareholder, she is a director by designation."

Dubey, a former director of the Allahabad Bank, had on Friday claimed that the Congress could have stopped the biggest bank scam of the country back in 2013, when he had flagged concerns about giving loans to Gitanjali Gems, according to a report in NDTV.

The country's second largest state-run lender, Punjab National Bank has been rocked by a Rs 11,400-crore fraud allegedly involving billionaire diamantaire Nirav Modi.

PNB detected a USD 1.77 billion scam where Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to secure overseas credit from other Indian lenders.

Following raids at various premises of the jeweller and his family, the Ministry of External Affairs has suspended validity of passports of Nirav Modi and his business partner and uncle Mehul Choksi with immediate effect for a period of four weeks on the advice of the Enforcement Directorate.

Also Read: PNB fraud case: Nirav Modi’s passport suspended for 4 wks, Interpol issues notice

ED sources told ANI that the agency has raided 35 new locations covering 11 states and seized diamond and gold worth Rs 549 crore on Friday.

Also Read: ED raids Nirav Modi premises, seizes Rs 5,700 Cr from 35 locations, 11 states