The Enforcement Directorate (ED) is all set to file its first prosecution complaint known as chargesheet in Rs 12,636 crore Punjab National Bank (PNB) fraud case against Nirav Modi and others next week. The first chargesheet will consist of investigation details and documental evidences against diamantaire Nirav Modi and others with charges of money laundering, round-tripping and siphoning of bank loans, under Prevention of Money Laundering Act (PMLA).
Of the fraudulent amount of Rs 12,636 crore, Nirav Modi is being probed for an amount of Rs 6,500 crore as the remaining amount has allegedly been laundered by his uncle Mehul Choksi.
The second chargesheet against Mehul Choksi, Gitanjali Group, Nakshatra Ltd, Gili Ltd. and other individuals has been planned for June-end.
It would also include investigation details of Rs 5,280 crore unpaid loan (working capital facility) given to Choksis Gitanjali group by the consortium of 31 banks.
As per the sources, the first prosecution complaint of nearly 10,000 pages would mention as accused Nirav Modi, Nishal Modi, Gokulnath Shetty, Manoj Kharat, Shyam Wadhwa, Diamond R US, Solar Exports, Stellar Diamond, directors of Firestar group of companies and other PNB officials.
The list of nearly 15-20 accused, may also include the name Purvi Mehta, sister of Nirav Modi.
On the condition of anonymity, sources within agency told Indiatoday.in that Purvi Mehta "may" get added in the list, as an accused.
Earlier, Indiatoday.in was the first to reveal that Purvi Mehta is accused of round-tripping of the laundered money back to India.
As per the investigation report submitted by Income Tax Department to the Finance Ministry in January 2017, one of the transactions of Rs 271 crore was made by Mehtas company Islington International. The source of funds was suspicious and is currently being probed by ED.
Mehta was summoned by the ED in Mumbai, within a 15-day deadline. Mehta however did not appear. "Purvi Mehta has replied back saying that she is not an Indian resident that she should follow directions of Indian investigative agency is too busy to come to India," the source told Indiatoday.in.
Mehta is under the EDs scanner for her alleged role in round tripping of money via Foreign Direct Investment (FDI) route back in India on Modis directions.
The complaint would also consist of the quantum of attachment and seizures of Modis movable and immovable assets such as flats, apartments, solar plant, farmhouse, luxury cars, expensive watches, paintings, bank accounts (cash worth Rs 100 crore) in India and abroad (two accounts in Belgium), stocks/shares worth Rs 600 crore.
Valuation report of Modis seized diamonds has been kept confidential by the agency, with high probability that it would not be revealed before the general public till the prosecution complaint gets filed.
Meanwhile, yet again, the ED under PMLA has seized over 3,400 pieces of jewellery worth Rs 85 crore of Choksi controlled Gitanjali group brought from Dubai.
The agency has already traced a money trail of around Rs 6,000 crore, which was laundered by Modi with the help of shell companies registered in Hong Kong.