PNB fraud: Non-bailable warrants issued against Nirav Modi, Mehul Choksi

03 March, Mumbai

 

A special court in Mumbai Saturday issued non-bailable warrants against diamond traders Nirav Modi and Mehul Choksi in the alleged 12,700 crore rupees Punjab National Bank fraud cases.

The court, set up under the Prevention of Money Laundering Act, PMLA issued the non-bailable warrants on applications filed by the Enforcement Directorate, one of the agencies probing the bank fraud cases registered last month.

The ED had earlier issued summons to Nirav and Choksi, both key accused in the fraud cases, asking them to appear before the central agency.

The agency moved the PMLA court for issuance of non-bailable warrants against the two diamond traders when they failed to appear before it.

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