ED files new charge sheet against Nirav Modi in PNB case

By

Isabelle Crossley

Published
Mar 12, 2019

The Enforcement Directorate has filed a new charge sheet against Nirav Modi at a Prevention of Money Laundering Act court in Mumbai in connection to his accused fraud at the Punjab National Bank.

On March 11, officials reported that the ED has filed a new charge sheet against Modi in Mumbai. This is a supplementary charge sheet that includes new evidence in the PNB fraud case as well as attachments to the case and further details are awaited. 

The new charge sheet was filed swiftly after Nirav Modi was located in London, UK by the Daily Telegraph newspaper and it transpired that he has registered a business there. The charge sheet follows the initial one registered against Modi in May 2018. The ED reported on March 9 that the UK Home Secretary has referred on India’s extradition request for Modi to a relevant court for starting the necessary legal proceedings against him.

Indian authorities are also investigating how Modi was able to set up a business in the UK and whether any of his Indian business associates helped him to do so.

“Following the article and other leads, we have conducted a preliminary probe which has revealed that Modi is in touch with a UK-based wealth management company, which might have helped him set up his business in London,” an official told ET Bureau. “We will also probe if there are any associates from India who might have also helped Modi.”