Mumbai: The Enforcement Directorate (ED) will file a charge sheet this week outlining how entities linked to jeweller Nirav Modi siphoned off and round-tripped Rs7,500 crore from Punjab National Bank (PNB), said two people aware of the development.
“The key charges are money laundering, fund-siphoning and round-tripping involving 50 overseas entities by Nirav Modi, his associates and staff of his group of companies,” an ED official, the first of the two people quoted above, said on condition of anonymity. “We were targeting to file a charge sheet by the middle of this month. Might be slightly delayed by a day or two. The charge sheet is tracing Rs7,500 crore of bank funds that were utilized for purposes other than stated purposes.”
The Central Bureau of Investigation (CBI), in its own charge sheet filed on Monday on the Rs12,636-crore scam, named 25 entities, including 22 individuals and three firms. Following this, the