PNB Nirav Modi Fraud Case


PNB Nirav Modi Fraud Case News - NewsOnFloor.com

Nirav Modi a big name & diamond trading industry who is accused in the Rs 13,500- crore PNB fraud case reported last year. In May 2018, the Enforcement Directorate (ED) filed chargesheets and sought non-bailable warrants against Nirav Modi and his uncle Mehul Choksi. The Interpol had issued a Red Corner Notice against Nirav Modi in July 2018 at the request of the Enforcement Directorate (ED) and the Central Bureau of Investigation. The 48-year old diamond businessman, who is wanted in India is marked with Rs 13,500 crore Punjab National Bank (PNB) fraud case, was arrested from Holborn, London in March 2019. Since then he has been fighting extradition proceedings in London. The accused businessman Nirav Modi had obtained thousands of crores from the Punjab National bank through Letters of Undertaking (LOU's) and Foreign Letters of Credit (FLC) fraud. ED has siezed most of his property in india & auctions of his valuable goods is already going on.

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