Nirav Modi refuses to join CBI probe

PNB chief auditor held

Bypoll win would impact 2019 polls NAVEEN PATNAIK

NEW DELHI: Billionaire jeweller Nirav Modi has refused to join the CBI investigation in the USD 2 billion fraud in Punjab National Bank citing his business engagements, prompting the agency to issue a stern letter on Wednesday asking him to appear before it next week.

Meanwhile, the CBI has arrested PNB’S internal chief auditor M K Sharma— a chief managerranked official— in connection with the case, they said, adding that it is the first arrest of any auditor of the bank.

Sharma, a scale-iv officer, was responsible for auditing the systems and practices of the bank’s Brady House branch--from Letters of Undertakings (Lous) were issued— and report the deficiencies with zonal audit office, they said.

Meanwhile, in a terse letter, the CBI “directed” him to approach the Indian mission in the country where he is residing so that immediate arrangement can be made for his travel to India, officials said.

The agency has told him that it is mandatory for an accused to join the investigation whenever they are asked to, they said.

He has been asked to appear for questioning next week, they said.

Meanwhile, I-T department has attached four assets of Nirav Modi worth Rs 70 crore.