The CBI on Monday booked billionaire diamond jeweller Nirav Modi, his wife, brother and his maternal uncle Mehul Choksi in connection with a Rs 280 crore cheating case after it received a complaint from the Punjab National Bank (PNB) on January 29. The FIR registered by the CBI said a few public servants “committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017”. Modi, his wife, brother, and Choksi are all partners of these three firms, the CBI FIR said. According to the PNB complaint, two of its employees had “fraudulently” issued eight letters of undertakings (LoUs) and “transmitted SWIFT instructions to the overseas branches of Indian Banks” to raise buyers credit of Rs 280 crore for Modi’s firms without “making entries in the bank system”. The bank has requested the CBI to issue a look-out notice against all of the alleged accused to ensure that they do not leave the country “to avoid the process of law”.

The CBI on Monday booked billionaire diamond jeweller Nirav Modi, his wife, brother and his maternal uncle Mehul Choksi in connection with a Rs 280 crore cheating case after it received a complaint from the Punjab National Bank (PNB) on January 29. The FIR registered by the CBI said a few public servants “committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017”. Modi, his wife, brother, and Choksi are all partners of these three firms, the CBI FIR said. According to the PNB complaint, two of its employees had “fraudulently” issued eight letters of undertakings (LoUs) and “transmitted SWIFT instructions to the overseas branches of Indian Banks” to raise buyers credit of Rs 280 crore for Modi’s firms without “making entries in the bank system”. The bank has requested the CBI to issue a look-out notice against all of the alleged accused to ensure that they do not leave the country “to avoid the process of law”.