New Delhi: Celebrity jeweller
Nirav Modi, who has been accused by
Punjab National Bank (PNB) of swindling the second-biggest state-run bank of over Rs 11,000 crore, is wanted by Indian authorities. Last month, Mr Modi was raided over charges that he and his associates swindled Rs 280 crore from PNB. In a new complaint this week, PNB pegged the
scam at much more - around $ 1.8 billion or Rs 11,300 crore. Mr Modi, who left India just days before the CBI started investigating him,
has been traced to an apartment in New York's Manhattan. Sources have told NDTV that he is staying in a suite at JW Marriott's Essex House, a short walk away from his luxe Madison Avenue jewellery retail store. The government has said his passport would be revoked and "no one, no matter how big, would be spared".
Here are the live updates in the Nirav Modi case:
Feb 17, 2018 19:52 (IST)
CBI has accused 10 other directors and officials in the scam. They are Krishnan Sangameshwaran, Nazura Yashjaney, Gopal Das Bhatia, Aniyath Shivraman, Dhanesh Vrajlal Sheth, Jyoti Bharat Vora, Anil Umesh Haldipur, Chandrakant Kanu Karkare, Pankhuri Abhijeet Varange, and Mihir Bhaskar Joshi, according to news agency IANS.
Feb 17, 2018 19:46 (IST)
Gokulnath Shetty is the retired deputy manager of PNB, Manoj Kharat is a single window operator of PNB and Hemant Bhat is an authorised signatory of the Nirav Modi group of firms.
Feb 17, 2018 18:18 (IST)
The only foreign bank affected in the fraud case turns out to be Intesa Sanpaolo SPA whose Hong Kong branch was called upon to provide money to Gitanjali Gems against a foreign letter of credit issued by the Punjab National Bank.
Feb 17, 2018 16:57 (IST)
Delhi Chief Minister Arvind Kejriwal also criticised the BJP government in a tweet by saying that earlier the Congress benefited from scams and now the BJP is. He also added that because of this, the BJP never sends a Congress member to jail. The chief minister also said that the Punjab National Bank "scam" started in 2011 and was going on till now.
Feb 17, 2018 16:49 (IST)
The Shiv Sena taunted BJP by saying the absconding scamster Nirav Modi "should be made the Reserve Bank of India Governor to finish off the country".
Feb 17, 2018 12:13 (IST)
CBI has arrested Gokulnath Shetty then Deputy Manager (now Retd) of Punjab National Bank; Manoj kharat, SWO(single window operater) PNB and Hemant Bhat, Authorised Signatory of the Nirav Modi Group of Firms.They will be produced today before CBI special court in Mumbai.
Feb 17, 2018 11:22 (IST)
The taxman also filed a charge sheet against Nirav Modi before a special court in Mumbai under various sections of the Income Tax Act, 1961.
The court will take up the case on February 27.