PNB fraud: Nirav Modi refuses to join CBI probe, says he has business abroad

Nirav Modi failed to keep his date with summons issued by the central probe agency in the PNB fraud case, which officials said had been revised upward to Rs 12,636 crore following fresh information from the bank.

Modi’s firm also said it had a concentration of suppliers and purchasers of cut and polished diamonds

Nirav Modi was summoned through email but he refused to join the investigation. (File Photo)

Billionaire diamond merchant Nirav Modi on Wednesday thumbed nose at CBI and refused to join the investigation into the Punjab National Bank fraud case. The diamantaire failed to keep his date with the summons issued by the central probe agency in the PNB fraud case, which officials said had been revised upward to Rs 12,636 crore following fresh information from the bank.

Modi was summoned through email but he refused to join the investigation saying he had “business abroad”, PTI quoted CBI officials as saying. The CBI also directed Modi to contact the embassy of India in the country where he is staying so that his travel to India can be arranged.

The move comes after Nirav Modi and his uncle, Mehul Choksi, who too is an accused, said they could not appear before the agency since their passports were revoked. The Income Tax Department further tightened the noose around Modi and issued look-out circulars against the diamond trader as well as Choksi to restrict their movement. Moreover, it also attached four assets of Modi worth Rs 70 crore, PTI quoted officials as saying.

Meanwhile, the CBI today arrested an Internal Chief Auditor of Punjab National Bank in an ongoing investigation of the cases related to Nirav Modi group and Gitanjali group. The arrested Auditor Mr MK Sharma, Chief Manager rank ( Scale IV officer of PNB ) was allegedly responsible for auditing the systems and practices of PNB, Brady House Branch and report the deficiencies to Zonal Audit Office. The arrested accused will be produced tomorrow in the Designated Court, Mumbai.