The Punjab National Bank (PNB) today suspended eight more employees in connection with Rs 14, 400 crore fraudulent transactions case involving billionaire jeweller designer Nirav Modi.
The passport issuing authority of the Ministry of External Affairs (MEA) has also suspended validity of passports of Nirav Modi and his business partner Mehul Choksi for a period of four weeks.
The Enforcement Directorate today conducted multiple searches in connection with another Rs 280 crore money laundering case against Nirav Modi and others following a complaint by Punjab National Bank, PTI reported.
PTI quoted official sources as saying that the agency sleuths swooped down on at least 10 premises of entities involved in the case early morning.
On Wednesday, the agencies had seized jewellery, gold and other assets worth Rs 6,400 crore linked to Nirav Modi in connection with the PNB fraud case. The ED had also issued summons to Nirav Modi and Mehul Choksi.
According to sources, Nirav Modi is presently staying in New York along with his wife Ami. His brother Nishal Modi is believed to be in Belgium.
Here is a compilation of what all has happened in this case so far:
