SBI freezes accounts of 3 Nirav Modi group companies
NEW DELHI: State Financial institution of India (SBI) has frozen accounts of three group firms of fugitive Nirav Modi and shared the data associated to these accounts with investigative businesses, financial institution officers mentioned.
“We have now proactively carried out inside scrutiny and got here throughout deposit accounts of three Nirav Modi group firms in our abroad branches,” the officers instructed PTI.
These accounts have been with the three abroad SBI branches at Dubai, Bahrain and Antwerp, officers mentioned.
The financial institution came upon these accounts after inside scrutiny, the officers mentioned, including these accounts aren’t instantly associated to the PNB fraud of almost Rs 12,600 crore.
Nonetheless, these might assist in investigation so the financial institution shared the main points with the CBI, the ED, the revenue tax division and different related businesses.
State Financial institution of India (SBI), the nation’s largest lender that has publicity of USD 212 million to Nirav Modi fraud, expects Punjab Nationwide Financial institution (PNB) to clear the financial institution’s dues within the fraud case.
Billionaire jewelry designer Nirav Modi is on the centre PNB fraud.
“I’m very a lot assured that issues will get sorted out between PNB and different banks,” Kumar mentioned in an interview to CNBC TV18. “So far as our publicity is anxious on PNB, that quantity could be very a lot confirmed, calculated and suggested to PNB,” SBI Chairman Rajnish Kumar had mentioned.
He had mentioned the publicity of SBI to Gitanjali Gems–one of the businesses concerned within the PNB fraud–has additionally been crystallised and there was no problem on that.
“So our numbers, our declare is obvious as a result of there are some secondary market purchases, so double counting must be prevented,” the SBI chairman had mentioned.