Today, the prime accused in the Punjab National Bank (PNB) case Nirav Modi’s lawyer, Vijay Aggarwal said his client did not abscond but is out of India for business purposes. Aggarwal said, “This is your perception that he is (sic) absconder. He is not absconding. He has a global business and he went out of India for business purpose. Now his passport has been revoked. His family members, some of them are foreign nationals, also stay abroad most of the time.”
Aggarwal alleged that PNB considered the commercial transactions as fraud. Earlier, PNB lodged two complaints against Modi and Mehul Choksi, Rs. 11,400 crores and Rs. 280 crores respectively. Aggarwal said, “The entire matter was in the knowledge of the bank. The bank took a commission of crores of rupees but now it is not accepting it. It was a commercial transaction of the bank which is now being termed as a fraud.”
Aggarwal put forth a question asking why would Modi run away from India leaving behind assets worth more than Rs. 5,000 crores. Aggarwal further added, “The business has been closed, the bank accounts have been seized, and shops have been shut. At the moment things are very hazy. We are looking at the case. We will know the charges when the CBI files charge sheet and then only some strategy can be worked out.” Aggarwal in a statement said the CBI said the amount is Rs. 280 crores and may go up to Rs. 5,000 crores. I do not know where the media is getting the figure of Rs. 11,400 crores from.
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