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Nirav Modi accuses PNB of destroying his business

Nirav Modi accuses PNB of destroying his business

India BloomsNews Service | @indiablooms | 20 Feb 2018, 11:44 am

New Delhi, Feb 20 (IBNS): Diamond czar Nirav Modi has accused the Punjab National Bank (PNB) of destroying his brand and business, media reports said.

In a written letter to the PNB, Modi stated that the overzealousness of the bank had restricted its ability to recover the dues.

Modi wrote the letter to the PNB on Feb 14 or Feb 15, 2018.

The government on Friday announced that the passport of the fugitive billionaire Nirav Modi, the prime accused in the Rs. 11,292-crore Punjab National Bank fraud case, and his business partner and maternal uncle Mehul Choksi have been cancelled for four weeks.

Modi, who is in the centre of a huge storm, reportedly left the country in January, much before the scam came to light.

According to media reports, he is now in New York.

Meanwhile, Interpol has issued diffusion notice against Modi, his wife Ami, brother Nishal and partner Choksi.

While the Central Bureau of Investigation (CBI) has registered two cases against Modi, the Enforcement Directorate (ED) has reportedly seized gold and diamond worth Rs 5,500 crores from the searches conducted at 17 properties of the diamond merchant across India.

On February 14, the CBI received complaints from PNB, which detected a Rs 11,292 crore fraud involving Modi.