The diamantaire's passport could be cancelled if he fails to return to India or cooperate with the probe in four weeks
Nirav Modi
The noose is closing in around Nirav Modi, with his passport and financial assets frozen. The Income Tax (I-T) Department yesterday restrained his bank accounts and fixed assets in connection with the multi-crore Punjab National Bank (PNB) scam. The taxmen attached a total of 21 bank accounts and eight of his assets. As per the order copy, I-T department searched the premises of Modi's company, Firestar Diamond, and attached international accounts and assets under sections 132 and153A of the Income Tax Act.
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Passports suspended
In addition, passports of Modi and his uncle, and business partner, Mehul Choksi have been suspended. Their passports could be cancelled if they do not return to India within four weeks, or at least communicate with officials here. The CBI has also contacted the Interpol to track down Modi, who left the country on January 1, days before the CBI started investigating him for credit fraud.
Fresh FIR registered
Meanwhile, the CBI registered a fresh FIR against Choksi and the Gitanjali group of companies, based on PNB's complaint made on February 13. It was alleged in the complaint that three private companies under the Gitanjali group, and their promoter/director (Choksi) caused an alleged loss of about R4,886.72 crore to the bank. This was allegedly done in connivance with then deputy manager and a clerk.
Yesterday, the CBI also searched the premises of the Gitanjali group at 20 locations, including Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore. Officials searched Gitanjali's factories, offices and residences at these locations. According to CBI sources, the fresh FIR involves 143 LoUs and 224 foreign letters of credit. These are separate from the earlier 150 LoUs mentioned in the FIR against Modi and his companies.
8
No. of assets frozen
21
No. of bank accounts restrained
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