PNB scam: Nirav wants assets back; Delhi HC says case sketchy; top updates

Accused in the Rs 127-billion Punjab national bank (PNB fraud, Nirav Modi might breathe smooth as the Delhi high court on Wednesday called the case towards the absconding diamantaire "sketchy". The court docket also issued a word to the Enforcement Directorate (ED) on a plea filed by means of Modi.

The Delhi high court decide stated, "... want to wait to see what the ED has to mention due to the fact Vijay Aggarwal (Nirav Modi's lawyer) himself would not seem to be too positive of the records of the case."
meanwhile, Nirav Modi wants the ED movement of seizing his property and depositing it with the PNB quashed.
Alarmingly, the extent of the unravelling fraud at PNB should upward thrust beyond the nearly $2-billion mark thus far outlined with the aid of the country-owned lender.

Modi, his uncle Mehul Choksi, and others are being investigated by means of a couple of probe companies after the scam recently came to light following a grievance through the PNB that they had allegedly cheated the nationalised financial institution, with the purported involvement of some bank personnel. The ED has registered a cash laundering case towards Nirav Modi, his firms, and others on the premise of a principal Bureau of investigation (CBI) first facts record (FIR).