Mumbai (Maharashtra) [India] March 03 (ANI): A special court on Saturday issued a non-bailable warrant against Nirav Modi and Mehul Choksi in connection with the Punjab National Bank (PNB) fraud case.
Meanwhile, Vijay Aggarwal, Nirav Modi's lawyer has said that the Non-Bailable Warrant (NBW) will be challenged in the High Court.
"We are considering to challenge the order in the High Court on behalf of Nirav Modi. But final decision shall be taken only upon seeing the order. We have not even been given a copy of application that ED filed," he told ANI.
On February 28, it arrested an Internal Chief Auditor of the Punjab National Bank (PNB). The arrested Auditor M.K. Sharma was allegedly responsible for auditing the systems and practices of the PNB in Brady House Branch.
Apart from these arrests, India's premier investigation agency has also arrested officials of Nirav Modi' and Choksi's companies.
On February 20, The CBI arrested five high profile accused: Vipul Ambani, president, finance, Firestar International Pvt Ltd.; Kavita Mankikar, executive assistant and authorised signatory of the three accused firms, Arjun Patil, senior executive, Firestar group; Kapil Khandelwal, CFO, Nakshatra group; and Niten Shahi, manager, Gitanjali.
The PNB scam is being termed as one the biggest bank frauds in India.
In a statement, the CBI said, "The PNB has informed us that further scam of Rs 1,251 crore has been detected with respect to Gitanjali Gems. The CBI is now probing Rs. 12,636 crore in the PNB scam, up from Rs 11,421 crore."