It is now said that Enforcement Directorate is also probing the a firm linked to Punjab National Bank (PNB) fraud.
Sources has said that the firm is Islington International Ltd, a Singapore-based company whose beneficiary owner is stated to be Modi’s sister Purvi Mehta.
It need be mentioned that Modi’s Firestar International had received foreign funds worth Rs 271 crore from Islington International Ltd.
The IT Department had earlier said the firm had not been able to provide necessary supporting documents of the creditworthiness of Purvi Mehta or Islington.
They said that source of funds also remains suspicious.
Earlier, Vijay Aggarwal, a lawyer for Nirav Modi, has said the billionaire jeweller may return to India only if the prosecution assures him of a free and fair trial.
Meanwhile, the entire episode has also implications for the gems and jewellery industry of India.