This is a breaking news. Designer Nirav Modi under probe.
Enforcement Directorate (ED) also has registered a case and raided the house of Nirav Modi.
Banks too are under scanner as they have provided unsecured loans to Modi. The loans were provided without any security. The banks’ officials were in touch with Nirav Modi The fraud surfaced after the non-payment of the loans.
Union Bank, Punjab National Bank (PNB), SBI OverseasBank, Axis Bank are involved. A total of 30 banks are involved in the case.
READ ALSO: Modi fraud case; authorities register case against jeweler
It is alleged that Nirav Modi is currently in Switzerland.
The thing to be noted is that warnings were given in January and still Modi has escaped.
The political parties have blamed the Modi government for the fraud case. While BJP has pointed out that the fraud occurred during the Congress rule in 2011-2014.
Meanwhile, the CBI has seal Nirav Modi’s house in Worli, Mumbai.
PNB’s ex-general manager, Gokul Shetty emerges as the key suspect and is under the scanner.
Further details awaiting.
Post Your Comments