PNB misrepresentation case: ED records first chargesheet against Nirav Modi, partners; anticipated that would document another against Mehul Choksi
PNB misrepresentation case : The Enforcement Directorate has documented its first chargesheet in the over $2 billion Punjab National Bank (PNB) misrepresentation case including diamantaire Nirav Modi and his partners, authorities said on Thursday.
As indicated by them, the 12,000-page ED chargesheet, or the arraignment objection, has been documented under the steady gaze of an extraordinary court here under different segments of the Prevention of Money Laundering Act (PMLA). The criminal grumbling has been documented against Nirav Modi, his partners and organizations and the whole array of issuance of phony Letters of Undertaking (LoUs) by Punjab National Bank (PNB) to his organizations in affirmed intrigue of bank authorities.
The ED chargesheet recorded Thursday likewise points of interest the connections made by the office against Modi and his partners over the most recent couple of months after it initially enrolled a FIR in the PNB extortion case. It centers around the illegal tax avoidance angle and the part of Nirav Modi and others in executing the charged misrepresentation, a senior authority said.
Prior in May, Central Bureau of Investigation (CBI) documented two chargesheets in the PNB misrepresentation case.
Nirav Modi, who is slipping off and has not joined the ED test for the situation till now, and others are being examined under different criminal laws after the extortion became exposed for the current year after PNB said they supposedly bamboozled the nationalized bank to the tune of over Rs 13,000 crore, with the indicated association of a couple of workers of the bank.
On 14 February, Punjab National Bank said it has identified a misrepresentation worth $1.7 billion executed by Nirav Modi and Mehul Choksi utilizing counterfeit PNB letters of undertaking (LoUs). Both the denounced had left India a month prior to the trick became known.
The ED is relied upon to document a moment chargesheet against Choksi and his organizations.
(This Story Originaitng Form FIRSTPOST)