PNB fraud case: Delhi HC issues notice to ED in Mehul Choksi case over dropping money laundering charges
PNB fraud case: Nirav Modi, his uncle Choksi and other persons are being investigated by multiple probe agencies after the Punjab National Bank (PNB) fraud case involving over Rs 11,000 crore came to light in January. The PNB had filed a complaint stating that it had allegedly been cheated to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.
PNB fraud case: Delhi High Court has issued notice to the Investigating agency Enforcement Directorate on a plea of Gitanjali Gems Ltd, seeking quashing of the money laundering proceedings against the company. Gitanjali Gems is the firm owned by Mehul Choksi. The latter has claimed that his fundamental rights under Articles 14, 19 and 21 are being violated by the Enforcement Directorate in the pursuit of proceedings under the Prevention of Money Laundering Act.
The HC bench comprising justices S Muralidhar and I S Mehta said that it will hear this matter April 11, along with similar plea of Firestar Diamond, a firm owned by diamond trader Nirav Modi. Advocate Sanjay Abott, appearing for Gitanjali Gems, sought the court's direction to quash the ED's move of seizing the Choksi firm's moveable properties.
It may be noted that Nirav Modi, his uncle Choksi and other persons are being investigated by multiple probe agencies after the Punjab National Bank (PNB) fraud case involving over Rs 11,000 crore came to light in January. The PNB had filed a complaint stating that it had allegedly been cheated to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.
The ED has registered the money laundering case against Nirav Modi, his firms and others on the basis of a CBI FIR. The CBI and the ED have registered the cases and intensified the crackdown on Nirav Modi with the ED seizing jewellery and assets worth thousands of crores of rupees.
The Income Tax department also attached various properties of Nirav Modi, while the CBI grilled several senior executives of his company.
Meanwhile, a PTI report said the Ministry of External Affairs yesterday submitted a request to Hong Kong authorities for provisional arrest of Nirav Modi. "The Ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region, People's Republic of China, for which a request has been submitted to them on March 23, 2018," V K Singh, the Minister of State in the Ministry of External Affairs, said in a written response to a question in the Rajya Sabha.'
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The minister was reportedly asked whether the ministry has any clue about the whereabouts of Nirav Modi and Mehul Choksi.
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