ED raids in Hyderabad in PNB Scam of Nirvan Modi
Written by : SMTV24x7 | Sat, Feb 17, 2018, 03:36 PM
Hyderabad Feb 17: A Bigger scam has been identified in recent days and the Massive default of loan of Rs 11400 Cr by Jeweler Nirav Modi to Punjab National bank has shaken the nation. Currently, many agencies are investigating the case.
The Enforcement Directorate (ED) had raided the premises of Hyderabad Gems SEZ Limited in Rajiv Gems Park, Ravirala, Shamshabad and has seized precious stones, gems, diamonds, and gold.
The agency have said that "The company belongs to billionaire jewelry designer Nirav Modi’s business partner and uncle Mehul Choksi."
Three kiosks of Geetanjali Gems were also searched in the city on Thursday night.Earlier the Agency has raided various locations of the jeweler stories in India.