Mumbai: The Central Bureau of Investigation issued Non-Bailable Warrants (NBW) against celebrity jeweller Nirav Modi and his uncle and business partner, Mehul Choksi, in connection with Punjab National Bank scam.
The warrants were issued after a special CBI court in Mumbai allowed it. The PNB in February detected the multi-crore scam, wherein Modi and Choksi had allegedly cheated the bank to the tune of Rs 114 billion, with the purported involvement of a few employees of the bank.
The scam, which reportedly began in 2011, was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies. The Enforcement Directorate (ED) registered a money laundering case against Modi and others on the basis of a Central Bureau of Investigation FIR. Currently, the probe agencies are investigating the matter and have also seized many properties of Modi and Choksi.