A special Prevention of Money Laundering Act (PMLA) court in Mumbai has issued a non-bailable warrant against diamond merchant Nirav Modi and his uncle Mehul Choksi of Gitanjali Gems in the Rs 12,700 crore Punjab National Bank (PNB) fraud case, according to media reports. ANI in a report said that the Central Board of Investigation (CBI) had produced 6 accused before a special CBI court here and has sought police custody for Gokulnath Shetty and five others. The move is a result of the Rs 12,700 crore PNB fraud that the bank revealed on February 14. According to the bank, Nirav Modi's jewellery firms and Mehul Chokshi's Gitanjali Group used multiple Letters of Undertaking (LoUs) fraudulently issued to them to seek loans from foreign branches of multiple Indian banks. Further, ANI also reported that Nirav Modi in an email to Enforcement Directorate said that passport authority suspended my passport when they wrote to him to join the probe.

A special Prevention of Money Laundering Act (PMLA) court in Mumbai has issued a non-bailable warrant against diamond merchant Nirav Modi and his uncle Mehul Choksi of Gitanjali Gems in the Rs 12,700 crore Punjab National Bank (PNB) fraud case, according to media reports. ANI in a report said that the Central Board of Investigation (CBI) had produced 6 accused before a special CBI court here and has sought police custody for Gokulnath Shetty and five others. The move is a result of the Rs 12,700 crore PNB fraud that the bank revealed on February 14. According to the bank, Nirav Modi's jewellery firms and Mehul Chokshi's Gitanjali Group used multiple Letters of Undertaking (LoUs) fraudulently issued to them to seek loans from foreign branches of multiple Indian banks. Further, ANI also reported that Nirav Modi in an email to Enforcement Directorate said that passport authority suspended my passport when they wrote to him to join the probe.