A special Central Bureau of Investigation (CBI) Court on Monday sent Vipul Ambani, president (Finance) of Nirav Modi's Fire Star Diamond and five others to judicial custody till March 19.
Along with Ambani, the five others are Arjun Patil (senior executive, Firestar group), Kapil Khandelwal (CFO, Nakshatra group), Niten Shahi (manager, Gitanjali), Rajesh Jindal and Kavita Mankikar (executive assistant) and authorised signatory of the three accused firms.
The six persons were arrested earlier in February by the CBI for their involvement in the 1.77 billion dollar scam, involving top jewellery designer Nirav Modi, among others.
Following this, the CBI during its interrogation revealed that Vipul Ambani was fully aware of the fraudulent and illegal Letter of Undertakings (LoUs) taken by Nirav Modi.
On a related note, the Directorate of Revenue Intelligence (DRI) on Sunday sanctioned the prosecution of Nirav Modi and his three firms in connection with the billion dollar fraud.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app