Non-bailable warrant issued against Nirav Modi and his family

The absconding jeweller Nirav Modi, linked with the money laundering case of the 13 Rs 13,000 crore Punjab National Bank (PNB) scam and his family were issued a non-bailable warrant by the Enforcement Department (ED) on Friday.

Among the accused listed by the agency are Modi’s family members, namely Neeshal Modi (brother), Nehal Modi (step-brother), Deepak Modi (father), Purvi Mehta (sister), Mayank Mehta (brother-in-law) along with his business associates Saju Poulose, Aditya Nanavati, Subhash Parab, Mihir Bhansali, Dharmesh Shah, Hemant Bhatt, Shyam Sunder Wadhwa and former PNB deputy manager,Gokulnath Shetty.

The ED sought a warrant against Modi’s siblings, step-brother, father, brother-in-law along with his business associates. The agency maintains that many of the accused were not interrogated. Statements of Bothra, Parab, Bhansali, Wadhwa, Bhatt and Shetty have been recorded under the Prevention of Money Laundering Act (PMLA).

According to the statement made by Bohra, his company, Jain Diamonds was used for rotating imports and exports of diamond jewellery belonging to Gitanjali Jewellers and Firestar Group. He was promised 0.15% of transactions made between the two companies.

Wadhwa claimed that Modi had floated 30 companies, holding major stake and control of them in Hong Kong to layer false import and export of diamond jewellery, and later launder money.