PNB scam case: CBI asks Nirav Modi to join investigation, he refuses saying 'has business abroad'

Central Bureau of Investigation (CBI) officials on Wednesday said that jeweller Nirav Modi, who is alleged of masterminding more than Rs 11,000 crore fraud in PNB, has refused to join the investigation.

The CBI had emailed Nirav Modi on his official email ID asking him to join investigation. The jeweller in the reply to the investigation agency said that he will not be able to join the probe since he has business abroad.

Reliable sources in the CBI said that they have no idea where Nirav Modi is. The agency had earlier said that he had left the country in January along with family.

On Wednesday, Firestar Diamond — a flagship company of  Modi has filed for bankruptcy in the United States (US). According to court filing in the Southern District of New York, Firestar Diamond has listed assets and liabilities ranging between $50 million and $100 million.

Also read | PNB Scam case : Nirav Modi's firm Firestar Diamond files bankruptcy in US

The state-owned Punjab National Bank earlier this month detected a USD 1.77 billion scam in which billionaire jeweler Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one of its branches in Mumbai for overseas credit from other Indian lenders.

The CBI and the ED have registered two FIRs each to probe the case. The case has been registered on the basis of the complaint registered by PNB.

The CBI had booked diamond merchant Nirav Modi, his brother, wife and a business partner for allegedly cheating PNB of over Rs 11,000 crore.