SFIO gives reports on 30 Nirav Modi firms; inspects NuPower Renewables

Regional director inspecting NuPower Renewables, others linked to ICICI Bank issue; SFIO starts probing Fortis, Religare

The Serious Fraud  Investigation Office (SFIO) and regional directors under the Ministry of Corporate Affairs (MCA) have given reports on 30 companies (and related parties) of Nirav Modi, main accused in the Rs 140-billion Punjab National Bank (PNB) fraud.

Also, a regional director (RD) has commenced an inspection of NuPower Renewables and five other companies linked to the ICICI Bank controversy.

While SFIO has completed its probe into six companies, RDs have done so in 24, Minister of State for Corporate Affairs P P Chaudhary told Business Standard. 
 

The government had ordered SFIO investigation into 107 companies and seven limited liability partnerships