CBI books billionaire Nirav Modi in Rs 280 crore cheating case

February 05, 2018 17:17

The CBI has booked billionaire diamond merchant Nirav Modi, his brother and wife and a business partner for allegedly cheating Punjab National Bank of over Rs 280.70 crore crore during 2017, officials said.

The CBI has acted on a complaint from the Punjab National Bank, which alleged that Modi, his brother Nishal, wife Ami and Mehul Chinubhai Choksi, all partners of Diamon R US, Solar Exports, Stellar Diamonds, were in conspiracy with officials of the bank and cheated it, causing "wrongful loss", the officials said.

The response to an email seeking the company's comments is awaited.

"The public servants committed abuse of official position to cause pecuniary advantage to Diamond R US, Solar Exports, Stellar Diamonds and wrongful loss of Rs 280.70 crore to Punjab National Bank during 2017," the FIR has alleged.

-- PTI

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