Document Fragment View

Matching Fragments

3.1 The respondent no.1 in counter affidavit filed in writ petition bearing no.3609/2018stated that CBI through its Bank Securities and Fraud Cell, Mumbai had registered a case bearing RC BSM 2018 E 0001-CBI/BS&FC/Mumbai dated 31/01/2018 on the basis of a written complaint dated 29.01.2018 submitted by Sh. AvneeshNepalia, Dy. General Manager(DGM), Punjab National Bank(PNB), Circle Office, Mumbai for commission of offences punishable under section 120-B read with section 420 IPC and section 13 (2) read with section 13 (1) (d) of the PC Act, 1988 and substantive offences thereof against Nirav Modi, Neeshal Modi, Ami Nirav Modi, MehulChoksi, partners of M/s. Diamond R US, M/s. Stellar Diamond and M/s. Solar Exports, Gokulnath Shetty, Dy. Manager and ManojKharat, Single Window Operator(SWO), Punjab National Bank, Mid Corporate Branch, Brady House, Mumbai and other unknown persons for cheating the bank to the tune of Rs.280 Signing Date:05.09.2023 W.P.(CRL) 3609/2018 &W.P.(CRL) 43/2019 Page 16 crores approx. through fraudulently issued LoUs. Avaneesh Nepalia, Dy. General Manager, PNB vide letter dated 13.02.2018 had intimated the respondent no.3/CBI that these accused persons had cheated the PNB to the tune of Rs.6498.20 crores through 150 LoUs, which were fraudulently got issued from PNB, MCB, Brady House Branch, Mumbai. It was further revealed during the investigation conducted by the respondent no.3/CBI that the petitioner, while working as Executive Director, Punjab National Bank, Head Office, New Delhi from January, 2014 onwards became party to the criminal conspiracy along with other accused persons and committed criminal misconduct and cheated the PNB through fraudulent issue and encashment of LoUs, which were got issued from PNB, MCB, Brady House, Mumbai on behalf of M/s Diamond R US, M/s. Solar Exports and M/s Stellar Diamond without any sanctioned limit and without 100% cash margin.

4. CBI filed Status Report under signature of S.P.Singh, Superintendent of Police, CBI:BS&FC:Mumbai in writ petition bearing W.P. (Crl.) no 3609/2018 wherein stated that a Regular Case bearing no RC BSM/2018/E/0001 was registered on 31.01.2018 by the respondent no 3/ CBI, BS&FC, Mumbai, on the basis of written complaint dated 29.01.2018 lodged by Shri. AvneeshNepalia, Deputy Signing Date:05.09.2023 W.P.(CRL) 3609/2018 &W.P.(CRL) 43/2019 Page 27 General Manager, Punjab National Bank (PNB), Zonal Office, Mumbai, against the accused i) Nirav Modi, Partner of M/s Diamonds R US, 1110, Prasad Chambers, Mumbai and Partner of M/s Solar Exports and M/s Stellar Diamond, Mumbai., ii) Neeshal Deepak Modi, Partner of M/s Diamonds R US, M/s Solar Exports and M/s Stellar Diamond, Mumbai, iii) Ami Nirav Modi, Partner, M/s Diamonds R US, M/s. Solar Exports and M/s. Stellar Diamond, Mumbai, iv) Sh. MehulChinubhaiChoksi, Partner M/s Diamonds R US, M/s Solar Exports and M/s Stellar Diamond, Mumbai, v) Sh. Gokulnath Shetty, Dy. House, Mumbai, vi) ManojHanumantKharat, SWO, PNB,MCB, Brady House, Mumbai and other unknown persons forcheating Punjab National Bank to the tune of Rs.280.70 crores through 8 unauthorised issued LOU during the period 09.02.2017 to 14.02.2017 which were got issued by the accused persons in conspiracy with public servants from PNB, MCB, Brady House, Mumbai on behalf of M/s Diamond R US, M/s Solar Exports and M/s Stellar Diamond without having any sanctioned limit and without providing the required 100% cash margin.

Signing Date:05.09.2023 W.P.(CRL) 3609/2018 &W.P.(CRL) 43/2019 Page 28 4.1 AvneeshNepalia, DGM,PNB, Zonal Office Mumbai submitted additional complaint dated 13.02.2018 against Nirav Modi and his group of firms for cheating the said bank to the tune of USD 1015.35 million (equivalent to INR 6498.20 crores) wherein it was mentioned that Nirav Modi in conspiracy with Gokulnath Shetty, ManojHanumantKharat and other accused persons had fraudulently got issued total 150 LOUs during the period 09.02.2017 to 23.05.2017 including the 8 LOUs which were referred in the complaint dated 29.01.2018 and the these LOUs were issued without having any sanction limit to M/s Diamond R US, M/s Solar Exports and M/s Stellar Diamond and without providing 100% cash margin and despite RBI guidelines for not allowing credit for import for semi-precious and precious stones including pearls for more than 90 days, the accused public servants had allowed credit up to 360 days. The said three firms of Nirav Modi had not repaid the funds and thereby Punjab National Bank hadbeen cheated to the tune of Rs.6498.20 crores approx.

4.2 The respondent no 3 during the investigation arrested 15 accused persons and after investigation in respect of 8 fraudulently Signing Date:05.09.2023 W.P.(CRL) 3609/2018 &W.P.(CRL) 43/2019 Page 29 issued letters of undertaking amounting to Rs.280.70 crores as mentioned in the complaint dated 29.01.2018 Final Report (Charge- Sheet) under section 173 of the Code was filed before the Special Judge, CBI, Greater Mumbai on 14.05.2018 vide Special Case No 37/2018 against accused Nirav Modi (A-1), Neeshal Modi (A-2), Gokulnath Shetty (A-3), ManojKharat (A-4), Hemant Bhatt (A-5), Bechu Tiwari (A-6), YashwantJoshi (A-7), PraffulSawant (A-8), VipulAmbani (A-9), Arjun Patil (A-10), KavitaMankikar (A-11), Rajesh Jindal (A-12), Mohinder Kumar Sharma (A-13), Bishnubrata Mishra (A-14), Miten Pandya (A-15), Manish Bosamiya (A-16), Sanjay Kumar Rambhia (A-17), Subhash S. Parab (A-18), UshaAnanthasubramanian (A-19), K V Brahmaji Rao (A- 20) i.e. the petitioner, SanjivSharan (A-21) and NehalAhad (A-22) for the offences punishable u/s 120-B IPC r/w 420 and 409 IPC and under section 13(2) read with section 13(1)(c)and (d) of the PC Act, 1988 and substantive offences thereof and against M/s Diamonds R US (A-