Nirav refuses to join CBI probe

Billionaire diamond merchant Nirav Modi has refused to join a CBI investigation into the Rs 12,717 crore banking fraud, citing his businesses abroad, sources said on Wednesday.

"I have businesses abroad, I can't come," Nirav is learnt to have emailed to the CBI after the agency asked him to appear before investigators in connection with the case filed on the basis of a complaint from the Punjab National Bank (PNB) in January.

The CBI had earlier this month emailed Nirav, who left India on January 1, to join the investigation.

On Wednesday, the agency again directed him to appear before its officers next week, citing it is mandatory for the accused to join investigation whenever they are asked to do so.

The agency has also asked Nirav to approach the Indian mission in the country in which he is currently put up so that it can arrange necessary travel documents for him.

The government had recently revoked his passport.

The PNB had on Monday informed the Bombay Stock Exchange (BSE) that the quantum of the scam has now risen to $1.97 billion (around Rs 12,717 crore).

In fresh trouble for Nirav, the Enforcement Directorate had also approached a court seeking issuance of a non-bailable warrant against the diamantaire, who is believed to be in the United States.

Nirav was issued summons thrice on February 15, February 17 and February 22 asking him to appear before the ED investigators on February 16, February 22 and February 26, respectively.

Expanding its probe, the CBI had on Tuesday questioned CEO and the Managing Director of Allahabad Bank Usha Ananthasubramanian on Tuesday in the case.

Usha, who was PNB chief between August 2015 and May 2017, is not being treated as an accused, officials said.

Another prominent banker N S Kannan of the ICICI Bank was also quizzed by the CBI on Tuesday with officials claiming that the interaction with him was to understand the financial profile of Gitanjali group of companies run by Nirav's uncle Mehul Choksi, who also has left the country in the first week of January.