(PTI)
A special CBI court here today remanded Vipul Ambani and others, arrested in connection with the multi-crore Punjab National Bank (PNB) fraud case, in judicial custody till April 11. Ambani, president (finance) of Nirav Modi’s Fire Star Diamond, and others were produced in the court of Special CBI Judge S R Tamboli today which sent them to judicial custody till April 11.
The CBI has alleged that the firms controlled by diamantaires Nirav Modi and his uncle Mehul Choksi had obtained fraudulent Letters of Undertaking (LoU) and Letters of Credit (LC), worth over 13,000 crore from the PNB, in connivance with some bank officials.
The CBI has alleged that Modi’s firms defrauded the PNB of over Rs 6,500 crore, while the figure stood at Rs 7,080 crore for Choksi’s firms. The CBI has arrested 11 persons in connection with the scam. They include Gokulnath Shetty (former deputy general manager of PNB), Manoj Kharat (single window operator of PNB) Hemant Bhat (authorised signatory of Modi’s company) and Bechhu Tiwari (then chief manager in the forex department of PNB). The CBI has registered cases against Modi and Choksi and their firms in connection with the PNB fraud.
