COVID-19 CASES IN MAHARASHTRA
Total:
52,26,710
Recovered:
46,00,196
Deaths:
78,007
LATEST COVID-19 INFORMATION  →

Active Cases
Cases in last 1 day
Mumbai
38,859
2,116
Maharashtra
5,46,129
46,781

PNB Scam: Nirav Modi still carrying out financial transactions

PNB has filed a new complaint against Nirav Modi, accusing him of being part of a near $2 billion fraud

PNB Scam: Nirav Modi still carrying out financial transactions
SHARES

After duping Punjab National bank for ₹11,400 Cr, CBI found out that the celebrity jewellery designer Nirav Modi is engaging himself in financial transactions. CBI came across one such transaction which he did with a Surat-based businessman worth ₹3.5 billion on February 28, 2018.

Apart from this, PNB filed a new complaint on March 4, 2018, accusing Modi of carrying out a fraud worth ₹3.5 billion. The bank stated that the credit which was sanctioned to Modi’s Firestar group of companies was not used for the said purposes. Other than three of his firms which were named in the original complaint, Modi’s flagship Firestar company came under a scanner which had previously said that it had no involvement.

Earlier, in a DRI investigation, it was revealed that Nirav Modi had cheated the Indian government by showing the lesser value of precious diamonds and increased the value in the market.

Apart from this, jewelry which was exported to US, Hong Kong, Canada, United Arab Emirates was of low quality. In 2015, the diamond-studded gold jewelry which exported to Hong Kong and the United Arab Emirates cost around ₹5 Cr but Modi’s companies misguided by showing the value of whopping ₹94 Cr.

Read this story in मराठी
RELATED TOPICS
MumbaiLive would like to send you latest news updates