Nirav Modi likely in Hong Kong, says Enforcement Directorate

MUMBAI: Nirav Modi, accused in the alleged Rs 12,600-crore Punjab National Bank (PNB) fraud, is reportedly in Hong Kong, the Enforcement Directorate said before a special PMLA (Prevention of Money Laundering Act) court on Saturday while seeking a non-bailable warrant against him. Special judge MS Azmi issued the NBWs against Modi and his uncle Mehul Choksi in the case.

ED special counsel Hiten Venegaonkar had sought the warrants on the grounds that the duo did not present themselves before the investigating authorities despite repeated summons. When contacted by TOI, Venegaonkar said that the line about Modi’s presence in Hong Kong was withdrawn from the application before the court. An senior ED official told TOI that he is reportedly holed up in Hong Kong.

The NBWs will facilitate the ED’s efforts in getting Modi and Choksi back to India.

During the hearing last week, Venegaonkar had told the court that the first of the summons was sent on the last known address of the duo on February 15 requesting them to make themselves available before the agency on February 16. The ED said that it did not receive a response. Subsequently, summons were sent through email on February 17 and 22 for their attendance on February 22 and 26 respectively.

Seeking the NBWs, the ED said the non-cooperative accused were unlikely to appear before the lawful authority unless compelled by law to do so.

Both Modi and Choksi had emailed the investigating agency in response to one of the summons. Modi in his email response had told the ED that he was working abroad, dealing with business and he will only communicate through email. Modi had also cited “personal security issues” he was facing and said that he was being harassed with multiple agencies hounding him and his safety, reputation and properties are being put in jeopardy. Choksi in his response has said that he is willing return to the country if his passport revocation is cancelled.

The ED in its plea with respect to Modi dubbed him the “prima donna in the whole saga of fraud perpetrated on the PNB” and said that his presence was urgently required. The ED said that Modi has failed to put forth any explanation for his leaving India in the wake of the alleged fraud. It further said that he was only trying to create facades for his nonappearance is such a sensitive matter.