The CBI on Friday registered an FIR against the Gitanjali Group of companies based on a complaint registered by the Punjab National Bank (PNB) in Rs 11,515 crore fraud case, sources said.
The PNB had filed the complaint on 13 February in the multi-crore fraud case.
Searches were underway on Friday at 20 locations related to the Gitanjali Group of companies in six cities and five states, the source added.
Mehul Choksi, uncle of Nirav Modi, is the chairman of the Geetanjali Group.
Stocks plunge
Stocks of jewellery company Gitanjali Gems also plunged almost 20 per cent. Stocks of Gitanjali Gems, the luxury jewellery brand promoted by Modi’s maternal uncle and business partner Mehul Choksi, plunged 19.94 per cent.
Billionaire diamond trader, Nirav Modi has been accused by the PNB of fraud along with his wife, Ami and brother Nishal Modi and partner Choksi.
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However, media reports suggested that the diamond merchant Nirav Modi left India and has been residing in an apartment in New York’s Manhattan.
He is believed to have been living in a luxurious suite at JW Marriott’s Essex House, reports added.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on 6 January, the officials said.
On Thursday, several outlets belonging to the Modis and Choksi were searched by the Enforcement Directorate. Assets, including gold, jewellery and diamonds had been seized.