Want nonbailable warrant against Nirav, family: ED

MUMBAI:THE Enforcement Directorate (ED) on Friday sought a non-bailable warrant against absconding jeweller Nirav Modi and his family members in the money laundering case linked with the ₹13,000-crore Punjab National Bank (PNB) fraud.

The ED also sought the court to take cognisance of the complainant filed against the 24 accused, which includes Nirav, his family members and several business associates.

The ED contended that many of the accused were not questioned and sought a warrant against Modi’s siblings, stepbrother, father, brother-in-law along with his business associates. The agency has already recorded statements of his associates – Dharmesh Bothra, Subhash Parab, Mihir Bhansali, Shyam Sunder Wadhwa and Hemant Bhatt, under the Prevention of Money Laundering Act (PMLA). The Special PMLA court has reserved its order on the ED’S plea for next week.

As per Bothra’s statement, his company, Jain Diamonds, was used by the Gitanjali and Firestar Group companies to inflate their turnover by layering and rotating exports and imports of diamond jewellery belonging to them. Bothra said he was promised 0.15% of the transaction.

Wadhwa said he was posted in Hong Kong and claimed that Modi had floated around 30 companies in that country, which the agency claimed were created to layer false imports and exports, and later launder money. The ED also said Modi held major stake and control in these companies.