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ED searches Nirav Modi's premises

ANI  |  New Delhi [India] 

The (ED) on Thursday conducted searches at 17 premises of Modi and across in connection with Bank (PNB) fraud case.

The probe agency also seized stocks of gold, diamond and precious stones worth Rs 5100 crore.

Meanwhile, the (CBI) has questioned bank officials in connection with case but has not arrested any person as of now.

Earlier, the CBI has sealed the residence of Ami Modi, wife of Modi in Mumbai's Worli in connection with the case.

The CBI sealed her residence after conducting a raid on February 3 and 4. The probe agency also seized 95 documents including import bills and applications.

The Bank detected a 1.77 billion dollars scam in which Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

The has suspended 10 officers involved in this scam and referred the matter to CBI for investigation.

The scam was started in 2011 and was detected in the third week of January this year, after which the officials reported it to the concerned agencies.

The CBI had received the complaint from PNB on January 28 and a case was registered in the case on January 31.

The CBI also issued the circulars against all the accused on January 31.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 15 2018. 21:00 IST