Published: Mon, March 05, 2018
World | By Camille Rivera

Indian Police Say Gold Bribes Given In $2bn Bank Fraud Case

Indian Police Say Gold Bribes Given In $2bn Bank Fraud Case

He was later directed to contact the embassy of India in a country where he is staying so that his travel to India can be arranged, they said.

PMLA court's order after duo failed to appear or respond to three ED summonses. Separately, Indian TV channels reported that another Mumbai court on Saturday issued non-bailable warrants against Modi and Choksi following an appeal by the Enforcement Directorate (ED), an Indian agency focused on foreign exchange and money laundering offences. The court of Additional Chief Metropolitan Magistrate issued the summons against Nirav Modi in connection with an income tax evasion probe against him and his companies and asked him to appear before it on March 12. "And when the liberty of a female is not been priced (sic) by the investigating agencies, my concern for my safety and for the unfairness in the process is not in any manner misplaced", Nirav Modi wrote to Archana Salaye, Assistant Director of ED, on February 26.

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The investigation agency arrested an auditor and two employees of jeweller Nirav Modi's Group of Companies and a director of Gitanjali Group of Companies in the said case.

Cyril Amarchand, India's largest law firm by lawyer headcount, was reportedly engaged by Modi for a banking-related mandate shortly before news of the alleged fraud broke in mid-February. In reply to the third summons, the businessman raised the issue of his security, the ED counsel said.

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However, Nirav's advocate Agarwal told the court he should be heard before any decision is taken on issuing the NBW as it involved fundamental rights of his client. "He also obtained illegal gratification from the beneficiary party for continuing issuance of fraudulent LoUs", the CBI application reads. The diamantaire, however, claimed that he could not join the probe due to business commitments overseas.

"We are considering to challenge the order in HC on behalf of Nirav Modi". The government has revoked their passports.

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With this, 18 people have been arrested in connection with the case which came to light on January 31 after the CBI registered a case on a complaint from the PNB against Nirav, his uncle Mehul Choksi, wife Ami and brother Nishal.

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