In the wake of the Punjab National Bank fraud case, the Enforcement Directorate (ED) on Wednesday sealed the residence of Gili India Limited director Aniyath Shivraman at Kalyan in Maharashtra's Thane district
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In the wake of the Punjab National Bank fraud case, the Enforcement Directorate (ED) on Wednesday sealed the residence of Gili India Limited director Aniyath Shivraman at Kalyan in Maharashtra's Thane district.
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The ED also seized several important documents related to the Punjab National Bank.
Meanwhile, all four people, accused of cheating the Punjab National bank to the tune of Rs 11, 400 crores, were sent to police custody on Wednesday.
A special Central Bureau of Investigation (CBI) court here sent all the four, including celebrity jewellery designer Nirav Modi's Firestar Diamond President Vipul Ambani, to custody till March 5.
The PNB detected a 1.77 billion dollar (Rs 11,400) scam, in which jeweller Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.
The scam started in 2011 and was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies.
Security agencies have been cracking down on the properties of Nirav Modi and his uncle Mehul Choksi, but have been clueless about their whereabouts ever since the scam unfolded.
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