Brushing aside CBI FIR, PNB scam accused Nirav Modi opened two new stores abroad

Billionaire diamantaire Nirav Modi, the prime accused in India’s biggest banking scam seems to be undeterred by all the ED and CBI raids at his stores in the country and fearlessly expanding his business abroad.

According to a report published in AajTak news website, Nirav Modi has opened two brand new stores in Malaysia’s Kuala Lumpur and Macau.

The Nirav Modi stores were opened in Kuala Lumpur and Macau on February 5 and February 9, respectively, days after CBI registered its first FIR.

So far, the investigation agency has not been able to trace Nirav Modi but some unconfirmed reports said he is hiding in New York.

However, the CBI has sought Interpol's help in locating Nirav Modi and another accused Mehul Choksi.

The passport of Nirav Modi and Mehul Choksi has also been suspended for four weeks and External Affairs Ministry has asked them to reply why it should not be revoked.

The Enforcement Directorate (ED) is also conducting raids at several stores and offices of Nirav Modi and has recovered over Rs 5,000 crore.

Nirav Modi, his uncle Mehul Choksi are accused of defrauding Punjab National Bank to the tune of Rs 11,400 crore.

Both Congress and BJP are blaming each other for the PN Bank fraud, however, a CBI FIR says most of the loans were given to him in 2017.

Congress said Nirav Modi and Mehul Choksi had links with Prime Minister Modi and claimed that Choksi was hosted by PM Modi at his official residence in 2015. The party also shared a picture of PM Modi along with Nirav Modi  

 The BJP, however, has rubbished Congress's charges and termed the photograph as a photo opportunity.