PNB scam was a Civil Transaction, Can’t return to India: Nirav Modi

Nirav Modi

New Delhi, Jan 5: Diamantaire Nirav Modi on Saturday said that the multicrore PNB scam was a civil transaction and refused to come back in India citing security reasons.

His statement was in response to special PMLA court on ED’s application to declare him fugitive offender under new Fugitive Economic Offenders Act.

“I’ve done nothing wrong. PNB scam was a civil transaction, blown out of proportion and can’t come back to the country due to security reasons”, his lawyer told the Court.

Diamond jeweller Nirav Modi and his relative Mehul Choksi, who is the chairman of the Gitanjali Group and others are under probe agency’s scanner after the Punjab National Bank fraud came to light last year.

Nirav and Mehul fled India in the first week of January, weeks before the scam was unearthed by the Central Bureau of Investigation (CBI).

The Interpol on December 13, last year issued a Red Corner Notice against Choksi, on request of the Central Bureau of Investigation.

Prior to this in February, a Blue Corner notice was issued against Nirav Modi and Choksi.

In July, the Interpol had issued an RCN against Nirav following the money laundering charges levelled by the Enforcement Directorate.


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