Rs 11,400-crore PNB fraud: ED may attach properties of Nirav Modi, Mehul Choksi. CBI seals Brady House branch

Investigating agencies are digging deeper into the alleged Rs 11,400-crore Punjab National Bank (PNB) fraud. The Enforcement Directorate (ED) has now summoned PNB officials and directors of subsidiaries linked to diamantaires Nirav Modi and the Gitanjali Group, owned by Mehul Choksi.

ED has shortlisted movable and immovable properties of Nirav Modi and Mehul Choksi and the attachment process is likely to begin soon. ED suspects that the entire Rs 11,400 crore (the alleged fraud amount) has gone out of India.

The searches at properties of Nirav Modi and Mehul Choksi are still on. Last week, ED seized diamonds and jewels worth more than Rs 5,000 crore during searches at various properties and showrooms of Nirav Modi across India.

Top officials of the Punjab National Bank also meeting the Central Vigilance Commissioner today, a day after being summoned by the agency in the wake of the alleged Rs 11,400-crore fraud.

In another development, the Central Bureau of Investigation (CBI) today sealed PNB's Brady House branch, where the alleged Rs 11,400 crore took place.

A notice on the sealing of the PNB branch in Mumbai has been put up outside the premises. Entry and exit of PNB officials at this branch have been prohibited till further orders from the CBI.

Following the CBI notice, PNB's Brady House branch will not deal with any banking operations.

The Brady House branch of PNB is a corporate branch which has high networth individuals and businessmen as its clients.

The Brady House branch of PNB in south Mumbai is not meant for retail bank customers and therefore its sealing will not affect the bank's regular customer services.