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PNB Scam: Mumbai Court Issues Non-Bailable Warrant Against Nirav Modi & Mehul Choksi

News World India | 0
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| April 8 , 2018 , 17:18 IST

The disgraced celebrity jewellers Nirav Modi and his uncle Mehul Choksi who are hiding abroad have landed themselves in bigger trouble by refusing to return back to India. Mumbai High Court has issued non-bailable warrants against both the millionaires on Sunday.

This marks the first arrest warrant against the duo to facilitate the probe in the Punjab National Bank scam. The warrant was issued at the request of the Central Bureau of Investigation (CBI), which is investigating the multi-agency crackdown on the businessmen.

ALSO READ: PNB Scam: ED Seizes Valuables Worth Rs 36 crore From Nirav Modi's Residence

The duo has earlier argued that their passports have been suspended by the government of India since February when the first case of fraud was filed against them. CBI has been contacting the millionaires through email and they claimed to have contributed without protest.

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.

Both Nirav Modi and Mehul Choksi are 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.