The Enforcement Directorate on Thursday conducted searches at 17 premises across India linked to billionaire jewellery designer Nirav Modi and seized diamond, jewellery, and gold worth Rs 5,100 crore.
"PM Modi's office received a written complaint about the Nirav Modi Scam in July 2016". That was in January 29, by which time Modi had fled the country with his entire family.
"Were all the departments under the Modi government asleep, and why?"
The minister added that no one in the banking system who has sought to derail ordinary banking system to help Nirav Modi will be spared.
Replying to the Congress allegation on BJP on why Nirav Modi was a part of the delegation that went to Davos with Prime Minister Narendra Modi for the World Economic Forum in January 2018, Ravi Shankar said, "Nirav Modi reached Davos on his own".
No one will be spared: Govt on PNB-Nirav Modi fraud
"The Prime Minister had said in the Lok Sabha that our government has not given any loans that have become NPA (Non Performing Assets). It is derogatory, scandalous and demeaning", he said while addressing a press conference.
Even as another multi-billion dollar shady deal within the Indian banking sector comes to light through the Rs 11,292 crore ($1.8 billion) scam by diamond merchant Nirav Modi, political parties have started the blame game, and it is most likely that the suspension of 10 employees of Punjab National Bank (PNB) apart, no other person will be tainted.
As per the CBI sources, Ami, an American citizen, left India on January 6 while Nirav left on January 1, days before CBI issued a lookout circulars against all accused in the scam. He was ranked 1,054 globally and 82 in India a year ago. These LoUs were signed by PNB and three diamond firms belonging to the Modi Group and some other firms owned by Gitanjali Gems.
The Congress wondered how Nirav managed to leave India when the government and the PMO had been alerted to the fraud much in advance. He is the founder of Dollars 2.3 billion Firestar Diamond and has business spread across three continents from China in Asia to Hawaii Islands in North America.
Union minister Nirmala Sitharaman hit back, blaming it on Congress-led UPA government: "Whatever is coming out is the result of the previous UPA govt, action will be certainly taken on it". Modi is one of India's richest men.
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