PNB case will collapse like 2G and Bofors, says Nirav Modi's lawyer

“Like 2G Scam and Bofors matter, this case will also collapse. Agencies are making noises in the media but they will not be able to prove the charges in a court of law. I am sure Nirav Modi will not be found guilty,” said Vijay Aggarwal, Nirav Modi's lawyer.

Vijay Aggarwal has earlier represented a number of accused persons in the high profile 2G spectrum case.

"All allegations (against Modi) are wrong. If somebody has committed a fraud, why would he leave movable assets worth 5,600-crore, which the ED has taken away, behind," argued Aggarwal.

The case, which is being touted as the biggest banking fraud in India, came to light last week after Punjab National Bank (PNB) said it has detected a USD 1.77 billion (about Rs 11,400 crore) scam and referred the matter to CBI for investigation.