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Nirav Modi and his uncle Mehul Choksi are at the centre of the $2 billion PNB fraud case. (Mint)
Nirav Modi and his uncle Mehul Choksi are at the centre of the $2 billion PNB fraud case. (Mint)

PNB fraud case: ED files fresh chargesheet against Nirav Modi

  • Enforcement Directorate files a chargesheet under the PMLA against Nirav Modi, prime accused in the PNB fraud case
  • Nirav Modi is said to be currently residing in London and is now involved in a new diamond business

New Delhi: The Enforcement Directorate (ED) has filed a fresh chargesheet against PNB fraud accused Nirav Modi under the anti-money laundering law, officials said in New Delhi on Monday. They said the chargesheet—or the prosecution complaint—has been filed before a Prevention of Money Laundering Act (PMLA) court in Mumbai.

This is a supplementary chargesheet against Nirav Modi and few others and ED has recorded additional evidences gathered in the PNB fraud case and attachments made, they said. Further details about the contents of the chargesheet are awaited.

The development comes two days after British daily The Telegraph reported that Nirav Modi, accused in the $2 billion PNB fraud case, is living in a £8 million apartment in London's West End and is now involved in a new diamond business.

The ED had on 9 March said  that the UK home secretary has recently referred India's request for extraditing Nirav Modi to a court for initiating legal proceedings against him. The ED had filed the first chargesheet in this case in May last year.

The agency and the Central Bureau of Investigation (CBI) are investigating Nirav Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam at Punjab National Bank's (PNB's) Brady House branch in Mumbai that was unearthed last year.

ED has also attached Nirav Modi's assets worth 1,873.08 crore under the PMLA and has seized assets linked to him and his family worth 489.75 crore.

Nirav Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where the rent is estimated to cost £17,000 a month, The Telegraph had reported.

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