Billionaire Nirav Modi has refused to join the CBI investigation into the PNB fraud case of Rs 12,717 crore. Punjab National Bank has said on Tuesday that fraud by jeweller merchant Nirav Modi and Mehul Choski can be roughly $ 2 billion. It is estimated to be $ 204 million more than previously estimated. In the information given to BSE on Monday, PNB has said that the amount of illegal transaction can increase to 204.25 million. At the same time, the scope of this investigation is going on increasingly towards the other banks. The CBI has also questioned 4 officials of ICICI Bank in this case.
CBI officials contacted Modi through his official email address and asked him to be a part of the CBI investigation. However, the jewellery merchant replied in the negative with the explanation that he had “business abroad” that needed attending, CBI Officials said Today. Moreover, the investigators again send a mail to Modi and instructed him to join the investigation by next week mandatorily. Apart from that, the agency also asked him to contact the High Commission of the concerned country and also offered to make arrangements for his return to India.
For questioning in connection with bank fraud, the CBI on Tuesday called former Managing Director of Punjab National Bank Usha Anant and two current General Managers in Mumbai Office for investigation. Apart from this, the ICICI Bank Executive Director, N. S., is in the process of giving the loan to Gitanjali Group was also questioned. It is being told that the directors are the leaders of the association of banks and under the supervision of them, crores of rupees have been given to Gitanjali group.
Sources of the investigating agency said that if all the loans of 16 banks of Nirav and Choski will disclose, then the fraud is estimated to reach 20 thousand crores. For the companies of Nirav and Choski, the banks offered many big loans at 12 percent bail. Like PNB, their recovery is also in danger.