A fresh case against Nirav Modi has been registered, said CBI on Thursday. The case has been registered for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017.
After the Bureau received a complaint from the PNB on Sunday, the CBI officials registered a case.
This is the second CBI case in which Nirav Modi has been named by the investigating agency.
In its complaint to the Central Bureau of Investigation, the bank alleged that during its internal investigation it had spotted circular transactions between the diamantaire promoted partnership firms namely -- Solar Exports, Stellar Diamonds and Diamond R Us -- and Firestar group of companies.
The head office of the bank had declared the accounts of Firestar Diamonds and Firestar International as fraud. It was also reported to the RBI on Sunday, it said.
-PTC News