A Mumbai special court has quashed a look out circular issued by CBI against the former chief financial officer of Nirav Modi's Firestar International Ltd company which is accused in the Rs 6,498 crore scam pulled off by the absconding diamantaire, officials said on Tuesday.

The court agreed with the submission of Ravi Shankar Gupta that he is highly qualified and is required to travel outside the country as he is the executive director of a multinational company.