Billionaire diamond jeweller Nirav Modi is at the centre of the Rs11,400 crore PNB fraud. Photo: ReutersMumbai: A special court on Monday approved the Enforcement Directorate’s request to issue a letter rogatory to six countries in the PNB fraud case. A letter rogatory is a formal request from a court to a foreign court for judicial assistance. “He (Nirav Modi) spread his business operations in various countries. He had apparently got issued multiple high value Letters of Undertaking (LoUs) in favour of his firms/companies from Punjab National Bank, which resulted in disbursement of funds as per the SWIFT messages sent by PNB,” ED said in the application copy.

Source: Mint February 26, 2018 13:30 UTC