PNB fraud case: Delhi High Court issues notice to ED, describes case as “sketchy”


New Delhi, March 7: The Delhi High Court today issued a notice to the Enforcement Directorate (ED) on a petition filed by Punjab National Bank (PNB) fraud accused Nirav Modi.

Dubbing the case “sketchy”, the Judge stated, “want to wait to see what the ED has to say because Vijay Aggarwal (Nirav Modi’s lawyer) himself doesn’t seem to be too sure of the facts of the case”.

The court further said that it’s not clear as to what is the exact amount involved in the matter.

“It’s not clear under what authority the ED went to search the properties,” the Delhi High Court stated.

Speaking to media, Vijay Aggarwal said that the High Court asked the ED to present all documents and said the matter is ‘sketchy’ since the exact facts are not known.

“Court asked ED to present all documents and said the matter is sketchy since we don’t have all the facts. We told them that this is the basis of our petition that there is no information. Court fixed matter for further hearing at 2:15 pm on March 19,” he added.

“I can understand search, I can understand seizure. But they have taken away my properties and given them to PNB,” the diamantaire had asserted in his plea.

Prior to this, on March 6, Nirav Modi-owned Firestar Diamond International moved to the Delhi High court against the seizure of his properties by the Enforcement Directorate.

Firestar Diamond International has demanded to quash of the order passed by the ED for the seizure of movable assets.

Besides this, Modi’s firm also challenged the provisions of the Prevention of Money Laundering Act (PMLA) that allow the ED to conduct search operation and seizure of property.

The plea by Firestar Diamond International further claimed that the ED launched search operation without following due process and giving a copy of the search warrant to the company staffers.

Nirav Modi and Mehul Choksi are accused in the Punjab Nation Bank multi-crore scam.

The scam started in 2011 and was detected in the third week of January this year, after which the PNB officials reported it to the central agencies.

Meanwhile, the PNB filed a second complaint with the CBI on February 13.

The probe agency had received the complaint from the public lender on January 28 and a case was registered in the case on January 31 this year.


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