Speaking at a programme organised by a television news channel here, he said, "I was trying to understand how Nirav Modi and Mehul Choksi (the prime accused in the Rs 11,400-crore alleged PNB scam) got all the benefits.
"I found out that the previous government, four-five days before going out of power, signed some documents which enabled them (Modi and Choksi) to commit the fraud worth thousands of crores of rupees."
Asked if a group photo featuring Nirav Modi and the prime minister, taken at Davos, could harm the latter's image, Fadnavis said, "When an organisation like the CII brings its delegation, no checks are done on the people involved. We are living in an era where anybody can click a picture anytime, anywhere.
"Even 50 Nirav Modis cannot spoil the image of the prime minister because of his strong credibility."
The UPA was dislodged from power at the Centre by the NDA in the 2014 Lok Sabha election.