In a big exclusive, NewsX spoke to CA of Nirav Modi, who has made some stunning revelations about the shell companies the businessman had floated for different purposes including availing Letter of Understandings (LoUs)from PNB. Modi has been revealed as the mastermind behind the multi-crore Punjab National Bank (PNB) scam that has shocked the entire banking system of the country. Read the full transcript of NewsX’s Atir Khan’s exclusive conversation with the whistleblower below:
NewsX: I have seen your statement you gave to ED, you mentioned Nirav Modi floated 14 shell companies. Were these companies floated to make properties?
Ramesh Assar: No, 3 companies were floated for properties. 2 were partners in diamond ‘R’ US
NewsX: Were Camelot enterprise and Camelot Trading used for trading?
Ramesh Assar: Camelot Cos. used for trading in shares, securities and paintings, then I was told that trading won’t be done in diamonds.
NewsX: Did you not know who were the directors of these companies?
Ramesh Assar: I didn’t know who were the other directors.NewsX exclusive: Nirav Modi floated 14 shell companies to avail LoUs, reveals his CA
NewsX: Didn’t Nirav Modi tell you about the directors?
Ramesh Assar: No
NewsX: Are other 3 companies in Nariman Point?
Ramesh Asaar: Bentley Properties Pvt Ltd at Mafatlal Centre 6th floor, Nariman Point, Mak Business Enterprise, Properties on 20th floor, Peninsula Park, Pandura Enterprise, Property at HCL House Marol.
NewsX: What was the objective of making these 14 companies?
Ramesh Assar: Objective was to make investments through these companies.
NewsX: Were you working as a consultant?
Ramesh Assar: I was working as a consultant. I was involved in a civil litigation and a residential property which Nirav showed in the high court.
NewsX: What about brother Neeshal as there is a company called Neeshal Marketing Private Ltd?
Ramesh Assar: Neeshal has nothing to do with these companies. He was the director of the companies till 2012. Neeshal resigned & Nirav requested me to join as a director. I joined these companies in 2012.