There is nothing that proves Nirav Modi is guilty, says his counsel
| Feb 21, 2018, 15:32 IST
Nirav Modi has been making the headlines for all the wrong reasons. A day after he virtually ruled out repaying the Rs 11,300 crore he owes to Punjab National Bank, his counsel has now said that the case against him is invalid. Vijay Aggarwal, who is currently Nirav's counsel stated that the cases filed by the CBI and the ED against his client would "collapse" like many other cases before his. "They (PNB and investigating agencies) are just making noise. There is nothing that proves Nirav Modi is guilty," Aggarwal said. He also argued that his client was not guilty of "any wrongdoing". He also said that the diamond trader, who now features on the country's most-wanted list, had not fled. "Nirav was out as he had to run his global operations", he added.
"Other banks (branches of Indian banks abroad) didn't pay the suppliers (of Nirav Modi) but to the Nostro account of PNB, and the PNB itself paid the suppliers, it cannot claim ignorance," he further added. "It's a branch headed by an assistant general manager rank officer. Shetty had a chief manager and AGM above him. The bank collected crores of rupees in bank charges on the buyers' credit facility (extended to three Nirav firms)," he further continued. When asked if his client was planning to return to India, Aggarwal refused to comment. Stay tuned for more updates.
"Other banks (branches of Indian banks abroad) didn't pay the suppliers (of Nirav Modi) but to the Nostro account of PNB, and the PNB itself paid the suppliers, it cannot claim ignorance," he further added. "It's a branch headed by an assistant general manager rank officer. Shetty had a chief manager and AGM above him. The bank collected crores of rupees in bank charges on the buyers' credit facility (extended to three Nirav firms)," he further continued. When asked if his client was planning to return to India, Aggarwal refused to comment. Stay tuned for more updates.