Amid attempts to locate the Nirav Modi and Mehul Chowksi businessmen, the central government’s Serious Fraud Investigation Office (SFIO) is probing at least 30 jewellers from Gujarat and Maharashtra.
This is being done in context of them having significant cash dealings with billionaire diamond jeweller Nirav Modi.
It need be mentioned that Nirav Modi is allegedly involved in fraudulent transactions of over Rs 7,000 crore at Punjab National Bank (PNB).
Sources informed that the SFIO is probing cash sales and purchases made by Modi through these jewellers.
The SFIO also suspects that these jewellers were providing “bogus invoices” of purchase and sales for diamonds and pearls to Modi and these fake invoices, it is suspected, could have been used by Modi for availing maximum working capital limits from the consortium of lenders.
It is said that the
agency has identified 30 local jewellers from Surat and Mumbai who were dealing with Nirav Modi in cash
At least three firms of Modi and his maternal uncle Mehul Choksi, promoter of Gitanjali Diamonds, have come under the scanner of the CBI, Enforcement Directorate, income tax department and the SFIO for the alleged over Rs 12,500-crore fraudulent transactions at the PNB.