Soon after Times Now exclusively reported that Nirav Modi has been traced to a hotel in the US, it has now come to light that the passports of the diamond designer and his business partner Mehul Choksi have been suspended for four weeks. The action was initiated by concerned authorities after the Enforcement Directorate had sent in a formal request to the passport issuing authority in the Ministry of External Affairs (MEA), following the raids that were conducted yesterday across several properties of Modi and his family members.
PNB fraud PMLA case: ED summons Nirav Modi, Mehul Choksi
As per information, the duo has been asked to respond within one week as to why their passports should not be impounded or revoked. If they fail to respond within the stipulated time, MEA will go ahead with the revocation.
Among other developments in the mega Punjab National Bank (PNB) scam, ED on Friday issued a summon for appearance to the 46-year-old billionaire diamond merchant Nirav Modi and his business partner (and uncle) Mehul Choksi in connection with its money laundering probe in the Rs 11,400 crore alleged fraud in Punjab National Bank (PNB), officials said.
The notices were handed over to the directors of the firms of the two businessmen as they were not in the country. While Modi runs the jewellery brand chain under his name, Choksi is the promoter of Gitanjali Gems.
Times Now exclusive: PNB fraud case accused Nirav Modi traced to hotel in New York
The ED had registered a PMLA case against them and others based on a CBI FIR which was the result of a PNB complaint. The ED yesterday carried out multiple raids on showrooms, workshops, offices, and residences of Modi and Choksi and seized diamonds, jewellery, and gold worth Rs 5,100 crore.
In addition to the Rs 11,400 crore, an Indian Express report on Friday also revealed that Nirav Modi's group of companies might have borrowed Rs 3,000 crore extra from 17 other banks.