Speaking in regard to recently surface bank frauds involving business tycoon Nirav Modi and Mehul Choksi, former Finance Minister P Chidambaram on Sunday said that all these frauds have taken place in one sector which is jewellery and mentioned that all these key players have come from the state of Gujarat. According to reports, the former Finance Minister P Chidambaram said, “It’s all happening in one sector-jewellery, key players seem to have come from one state-Gujarat. It’s not happening across sectors and states.” Chidambaram further added, “obviously, people have been helped at some level. Who or how helped, I have no evidence.”
P Chidambaram’s remarks have come in regard to a massive bank fraud case involving the Punjab National Bank (PNB), diamond tycoon Nirav Modi and the total cost of the scam amounts nearly Rs 12,000 crore. However, one of the main accused in the alleged bank fraud case, Nirav Modi have escaped India and it’s not sure where is he residing now. Some reports had earlier hinted that he was in the United States, but nothing was confirmed.
Meanwhile, the law enforcement agencies in the nation are now alerted and in their process of cracking down on Nirav Modi’s assets in the country have sealed and raided several properties, business and other assets amounting to almost Rs 5,000 crore. The probing agencies including the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) have issued summons to Nirav Modi to appear before them, but they haven’t got success so far. According to recent development, media reports said that Nirav Modi’s deportation to India has been delayed due to security reasons.