PNB Fraud: CBI sends 10 people to judicial custody
The Special CBI court in Mumbai has sent Vipul Ambani President (Finance) of Nirav Modi's Fire Star Diamond and 5 other accused Kavita Makikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal and Nitin Shahi to judicial custody for 14 days.
The six arrested in February by the CBI will remain in Judicial custody till March 19.
The CBI in its interrogation also revealed that the Vipul Ambani had complete knowledge of fraudulent and illegal Letter of Undertakings taken by Nirav Modi.
#PNBFraudCase: Vipul Ambani, President (Finance) of Nirav Modi's Fire Star Diamond and 5 other accused - Kavita Mankikar, Arjun Patil, Rajesh Jindal, Kapil Khandelwal & Niten Shahi sent to Judicial Custody till 19th March by Special CBI Court, Mumbai
— ANI (@ANI) March 5, 2018
Whereas the four accused who were arrested Sunday have been sent to judicial custody for 12 days.
Manish Bosamiya, Miten Pandya, Sanjay Rambhia and Aniyath Shiv Raman Nair will remain in judicial custody till March 17.
#PNBFraudCase: Four accused- Manish Bosamiya, Miten Pandya, Sanjay Rambhia & Aniyath Shiv Raman Nair, arrested yesterday, sent to police custody till 17 March by Special CBI Court, #Mumbai
— ANI (@ANI) March 5, 2018
The CBI also questioned Punjab National Bank's General Manager Treasury, SK Chand in connection with the Fraud case.
The agency has yet to track down Modi and Choksi, who left India in January before the fraud came to light. Both have issued statements denying the CBI’s charges.
Nirav Modi and Mehul Choksi, owner of Gitanjali gems, are accused of securing unauthorised loans using fraudulent LoUs from the PNB.
They are suspected of colluding with bank officials at PNB to obtain unauthorised loans over a six-year period starting in 2011.