Two petitions were filed in the Supreme Court today seeking an special investigation team probe into the over Rs 11,000 crore fraud at the Punjab National Bank, allegedly involving billionaire jewellers Nirav Modi and Mehul Choksi.
The petitions were filed by two Delhi-based lawyers seeking the apex court’s direction to the Centre to initiate the process of deportation of Nirav Modi and other accused in the case, preferably within two months. Modi allegedly left the country before the fraud unfurled.
ML Sharma’s Plea
The plea seeking a court-monitored SIT probe in the case was filed by advocate ML Sharma who has said that the special investigation team should consist of retired judges of the apex court.
Sharma claimed that the banking fraud has caused serious injury to the general public and the state and it should be not be investigated by an agency “controlled by political leaders/authorities.”
Also Read: The Banks That Have Exposure To PNB Fraud
The plea has alleged that loans were issued in the case without following Reserve Bank of India’s financial rules and regular systems.
Second Plea Seeks Set Guidelines
The other plea has sought the court’s direction to the Finance Ministry to set guidelines for grant of loans of Rs 10 crore and above to ensure safety and its recovery. It has also sought a direction for constitution of a committee of experts to find the details of bad debt cases in the country.
The CBI has already registered two FIRs -- one on Jan. 31 and another a few days ago against billionaire diamond merchant Nirav Modi, his relative Mehul Choksi of Gitanjali Gems Ltd. and others for allegedly defrauding the PNB of about Rs 11,400 crore.
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