Mehul Choksi (Gitanjali Gems) and Nirav Modi are the 2 main accused in the Punjab National Bank scam
The Enforcement Directorate today said the solitary Gitanjali Gems store in Kolkata has started winding up since the Rs 11,300-crore Punjab National Bank scam broke out. The name of Mehul Choksi, the owner of the store, features in the multi-crore rupee fraud.
A senior Enforcement Directorate or ED official told news agency PTI that the department's officials went to the Camac Street store of Gitanjali Gems, but found the shop closed. "It seems that the company was in the process of winding up the store," the official said.
Another team of ED officials visited a smaller Durgapur store, which is run on a franchisee basis. "It (the Durgapur store) may not be of much help for investigation purposes," the official said.
Punjab National Bank or PNB has detected the scam in which billionaire diamond merchant Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to secure overseas credit from other Indian lenders.
Mehul Choksi is Nirav Modi's uncle and business partner.
The Enforcement Directorate official said that there is no Nirav Modi-branded jewellery store in Kolkata.