Enforcement Directorate lists Nirav Modi, kin in chargesheet
The chargesheet also speaks of the roles played by some of the accused bank officials.
Mumbai: The Enforcement Directorate (ED) on Thursday filed its first chargesheet in the alleged Rs 6,500-crore fraudulent transactions at Punjab National Bank (PNB) by Nirav Modi Group firms. Sources said in its 12,000-pages chargesheet, which was filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai, the ED has named some family members of fugitive diamantaire Nirav Modi, too.
The 24 persons against whom the chargesheet was filed include Modi, his associates and bank officials — as well as few companies owned by him. This is the first time that the agency has named family members in a chargesheet. The ED has also mentioned the details of attachments made by the agency against Modi and his associates during the last few months after it had registered FIR in the fraud case.
The chargesheet has details of modus operandi adopted by Modi and other accused in getting letters of undertakings (LoUs) and foreign letters of credit (FLCs) issued in favour of Modi’s company without following the process practised in PNB. The chargesheet also speaks of the roles played by some of the accused bank officials. According to an ED officer, the probe is still going on.