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PNB Fraud: ED Investigating 120 Shell Companies Linked to Mehul Choksi, Nirav Modi
February 26, 2018
In a bid to unearth more information on the PNB fraud, the Enforcement Directorate (ED) is now probing 120 shell companies that could be linked to Gitanjali Group head Mehul Choksi and Nirav Modi, two main parties that are alleged culprits in the fraud.
A senior official said that ED is investigating 41 companies owned by Nirav Modi, and 79 companies owned by Mehul Choksi as it believes it’s possible that these alleged fraudsters could have transferred the loan amount taken from the banks to these.
