PNB fraud: CBI gets permission to attach Nirav Modi’s bank account in UK

mumbai Updated: Apr 09, 2018 23:50 IST
HT Correspondent
HT Correspondent
Hindustan Times

The agency claimed that M/S Nirav Modi Pvt Limited had an account with Barclays Bank Ltd in London(FILE)

A special CBI court on Monday gave nod to attachment of diamond merchant Nirav Modi’s account in a bank in the United Kingdom (UK), as part of the investigation into the Punjab National Bank fraud.

The agency claimed that M/S Nirav Modi Pvt Limited had an account with Barclays Bank Ltd in London. The account has 1,279,517.53 GBP and 1244.04 USD as balance amount. The bank wants to terminate its relationship with Modi’s company and so is likely to transfer the money to him, the agency said, adding they suspect the amount has been earned through the letters of understanding (LoUs) obtained from PNB.

The prosecutor for CBI, Om Prakash, pleaded for issuance of letter rogatory (LR) to the authorities in the UK, requesting them to freeze the bank account. As the special court allowed the plea, the ministry of external affairs can now send the LR to an appropriate authority in the UK.

The court also refused to allow lawyer Yashwardhan Tiwari to represent Modi before it, in connection with the non-bailable warrant issued against the diamond merchant. The court questioned Tiwari on his locus and authority to appear before the court, when Modi has left the country.

CBI counsel, too, opposed Tiwari, claiming that this is not the stage to accept appearance as the suspect was not available and not in the country. The court asked Tiwari if he would put Modi’s address on record.

Meanwhile, the enforcement directorate (ED) approached the court for LR to the US, seeking details of Modi’s account and his properties.

First Published: Apr 09, 2018 23:49 IST