26 February,2018 07:47 PM IST | | IANS
The Central Bureau of Investigations (CBI) raided the offices of a well-known legal firm as part of the ongoing probe into the Rs 11,300 crore Punjab National Bank (PNB) fraud involving billionaire diamond trader Nirav Modi, official sources said here on Monday.
The CBI sleuths last week swooped on the offices of Cyril Amarchand Mangaldas, a leading firm which was reportedly hired by Modi around a month before the scam broke in mid-February, at their offices in Lower Parel in Mumbai.
The CBI examined the documents provided by the firm pertaining to the Nirav Modi-related mandate, which the company later reportedly terminated after the scam erupted on February 14.
ALSO READ
Ex-DGM of New India Assurance sentenced to 4 years in fraud case
Kolkata doctor rape-murder case: ‘CBI probing with utmost seriousness’
Mumbai: Ex-customs official gets one year in jail in Rs 14-crore cheating case
EPFO officer held by CBI in Jalgaon for bribery
NEET UG-2024 paper leak case: CBI files third chargesheet against 21 accused
Business and political circles are viewing the raid in the light of Prime Minister Narendra Modi's assertion that his government will "take stern action" in any economic irregularity.
Addressing a global leaders summit on Saturday, Modi had said: "The system will not accept the theft of public money. That is the key to New Economy, New Rules."
CBI Director Alok Kumar Verma too on Monday directed the officials in charge of the investigation to "complete (it) within the stipulated time" and has also asked them "not to spare anyone found involved".
Political sources pointed out that Cyril Shroff of Cyril Amarchand Mangaldas has family ties through marriage with noted industrialist Gautam Adani. The questioning of Vipul Ambani, of the Ambani family, is also being viewed in the same light, they added.
Despite repeated attempts, senior officials at the Mumbai branch of Cyril Amarchand Mangaldas -- which has offices pan-India -- were not available for comments in the matter.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
