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PNB fraud: BJP alleges Abhishek Singhvi’s wife has shares in Nirav Modi’s firm, Cong warns of legal action

PNB fraud: Congress had charged the BJP by saying that the scam took place in 2017 under the Modi government when the letters of understanding were signed by the Punjab National Bank in favour of Nirav Modi.

By: Express Web Desk | New Delhi |
Updated: February 17, 2018 5:09:12 pm
PNB fraud: BJP alleges Abhishek Singhvi's wife has shares in Nirav Modi's firm, Cong warns of legal action BJP leader and Defence Minister Nirmala Sitharaman shows a document while addressing a press conference on Nirav Modi issue, at BJP headquarters in New Delhi on Saturday. (PTI Photo)

Rubbishing Nirmala Sitharaman’s allegations that his family members hold shares in a company run by fraudulent Nirav Modi, Congress leader Abhishek Manu Shingvi on Saturday threatened to take legal action against the defence minister

Sitharaman, in a press conference, accused Singhvi’s wife and son of holding stocks in Fire Star Diamond I’nal Pvt Ltd- a company run by Nirav Modi. “Fire Star Diamond I’nal Pvt Ltd is one of the companies that Nirav Modi runs. They’ve taken on lease property which belongs to Advait Holding Ltd in Trade Point Building in Lower Parel. From 2002 Anita Singhvi is one of the shareholders. You know who’s wife she is,” said the minister.

CBI arrests retired PNB deputy manager, two others

Reacting sharply to the accusations, Singhvi said, “Nirmala Sitharaman and her colleagues are liable to civil and criminal defamation for making ignorant and patently false allegations. I reserve my rights to take all such appropriate legal action against the latter and all parts of media which carry such allegations.”

Singhvi added “Adwait Holding owns a commercial property at Parel, as it does elsewhere, which was rented by Firestone many years ago. Neither Adwait nor my family has any interest with Modi or Firestone. Firestone vacated Parel Kamla Mills premises in December 2017.”

Earlier in the day, the CBI arrested three people in connection with the over Rs 11,000 crore Punjab National Bank fraud case. The probe agency arrested Gokulnath Shetty, then Deputy Manager (now Retd) Punjab National Bank; Manoj Kharat, SWO (single window operator) PNB and Hemant Bhat, Authorised Signatory of the Nirav Modi Group of Firms. Meanwhile, the agency raided the residences of the PNB officials probing their role in issuing the LoUs to the companies.

Following the revelation of the massive scam, shares of three banks, Punjab National Bank, Union Bank of India and Allahabad Bank, and Mehul Choksi-promoted Gitanjali Gems tanked over the last few days, LIC, which is the single largest institutional investor in all these four entities has lost nearly Rs 1,400 crore over the last three trading sessions

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