Nirav Modi

A Mumbai Court on Tuesday issued summons to jeweller Nirav Modi to appear before it on March 12 in connection with multi-crore Punjab National Bank (PNB) scam. The court has also made it clear that if for any reason, Modi fails to appear before it, then a Non-Bailable Warrant (NBW) will be issued against him. The PNB detected a billion dollar scam earlier this month, in which Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.