PNB Scam: Call Nirav Modi Back To India, Orders Delhi HC To Firestar Diamond

News World India | 0
| April 11 , 2018 , 18:20 IST

For aiding the ongoing investigation in the ongoing PNB scam, Delhi High Court on Monday directed the "fugitive" diamantaire Nirav Modi's company, Firestar Diamond, to ask him to return to the country.

The company's lawyer sought relief on a technicality that Firestar International had authorised the filing of petitions by its subsidiary, Firestar Diamond, post which a bench of Justices S Muralidhar and I S Mehta passed the direction.

Advocate Vijay Aggarwal, who appeared for Firestar Diamond and Firestar International told the bench, "If we should not stress upon a technicality, then ask Mr Modi to come back. Ask him to come back."

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The bench expressed "serious concern" over the Modi's statement that he will not submit to the jurisdiction of Indian agencies and said, "we are dealing with a fugitive here according to them (ED). A fugitive from justice stands on a different footing."

While both are in hiding for the past months, Indian government agencies have seized their properties worth thousands of crores leading them to shut down their outlets in several parts of the country.

Nirav Modi is accused of illegally obtaining LoUs from the Punjab National Bank to avail loans from lenders abroad and then defaulted on them. The CBI and Enforcement Directorate are currently investigating the fraud case worth Rs 12,700 crore.