In the latest development in connection with the Punjab National Bank fraud case, the Passport issuing authority in the Ministry of External Affairs has suspended validity of passports of billionaire diamond merchant Nirav Modi and his business partner Mehul Choksi with immediate effect for a period of four weeks. This step has been taken on the advice of the Enforcement Directorate.
According to media reports, Nirav Modi and Choksi have been asked to respond within one week as to why their passports should not be impounded or revoked. In addition, if they fail to respond within the stipulated time, MEA will go ahead with the revocation.
Earlier, the ED had issued summons for appearance to Modi and Choksi in connection with its money laundering probe in the Rs 11,400 crore alleged fraud in PNB.
Both Modi and Choksi were summoned under the Prevention of Money Laundering Act (PMLA) and asked to depose within a week’s time. The notices were handed over to the directors of the firms of the two businessmen as they were not in the country.
While Modi runs the jewellery brand chain under his name, Choksi is the promoter of Gitanjali Gems.
It has been reported that Nirav Modi had left the country on 1 January and 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 ED had registered a PMLA case against them and others based on a CBI FIR which was the result of a PNB complaint.
The ED yesterday carried out multiple raids on showrooms, workshops, offices and residences of Modi and Choksi and seized diamonds, jewellery and gold worth Rs 5,100 crore.
(With agency inputs)