Arun Jaitley said the last fake PNB LoU was issued to Nirav Modi on 23 May 2017. In a written reply to a question in the Rajya Sabha, Jaitley said the last fraudulent LoU was issued on 23 May 2017. During these six years, 53 genuine (non-fraudulent) LoUs were also issued to Nirav Modi Group — the first being on 5 March 2011 and last on 6 November 2017, he said. The fraudulent LoUs had a validity of up to one year. Payments due in January this year were against LoU issued in February last year, he said, listing date-wise the LoUs issued.

Source: Mint March 13, 2018 13:30 UTC