State-owned Punjab National Bank yesterday said that it had detected a USD 1.77 billion (about Rs 11,400 crore) scam where Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.
"Guide to looting India by Nirav Modi--1. Hug PM Modi 2. Be seen with him in DAVOS. Use that clout to: A. Steal 12,000 crore B. Slip out of the country like Mallya, while the government looks the other way," Congress chief Rahul Gandhi tweeted.
"Who is Nirav Modi? The new #ModiScam? Was he tipped off like Lalit Modi and Vijay Mallya to escape by someone within the government," he asked.
"Has it become the norm for letting people run away with public money? Who is responsible," Surjewala tweeted.
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