You are using an older browser version. Please use a supported version for the best MSN experience.

PNB fraud case: Govt revokes Nirav Modi’s passport, assets worth Rs 1300 crore seized

Hindustan Times logo Hindustan Times 15-02-2018

The government on Thursday said Nirav Modi, the billionaire accused of defrauding Punjab National Bank (PNB) of Rs 11,400 crore, won’t be spared and criticised Opposition parties for pointing a finger at the prime minister for the alleged scam.

Complete coverage of PNB fraud

Law minister Ravi Shankar Prasad told a press conference that assets worth Rs 1,300 crore have been seized and a look-out-notice against Nirav Modi has been issued, news agency ANI reported. “We wish to make it very clear – and this I can also convey on the behalf of the government – that nobody shall be spared in the banking system who has sought to derail ordinary banking system to help Nirav Modi. This is regardless of stature and status of concerned official,” said Prasad.

Also read on MSN: Who is Nirav Modi?

“What is this word ‘Chhota Modi’? The BJP takes strong offence to the kind of language being used by describing someone like that. It is derogatory, scandalous and demeaning,” said Prasad. He was responding to the Congress party’s allegation that the Narendra Modi government had failed to prevent the scam and identify those who let Nirav Modi reportedly flee the country.

Watch video

Replay Video

(Video provided by NDTV)

Earlier in the day, Congress spokesperson Randeep Surjewala had alleged Nirav Modi was “protected”.

Watch video

Replay Video

(Video provided by Times of India)

“The Congress demands accountability, responsibility and recovery of the money and answers on who had protected another ‘Chhota Modi’ and helped him flee the country,” said Surjewala.

The All India Radio said in a tweet Nirav Modi’s passport has been revoked.

PNB , the second-biggest state-run lender, stunned the country’s financial sector when it announced this week it had discovered the multi crore fraudulent transactions at a single branch in Mumbai.

More from Hindustan Times

Hindustan Times
Hindustan Times
image beaconimage beaconimage beacon