PNB 11,400-crore scam: Most of Nirav Modi’s fraud LoUs issued or renewed in 2017-18, says CBI

PNB 11,400-crore scam: Most of Nirav Modi’s fraud LoUs issued or renewed in 2017-18, says CBI

  • February 16, 2018
  •   221

AS the BJP and Congress blame each other for looking the other way while diamond czar Nirav Modi and his family allegedly defrauded the Punjab National Bank, the CBI has said that a majority of the Letters of Understanding (LoUs) in the Rs 11,400-crore scam were either issued or were renewed in the bank in 2017-18.

The CBI on Thursday registered a fresh FIR in the case against Mehul Choksi, maternal uncle of Nirav Modi, and his three companies claiming that they swindled PNB to the tune of Rs 4,886.72 crore in 2017-18 by way of getting 143 LoUs issued through the bank.
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