 "Nirav Modi")
The Enforcement Directorate (ED) is conducting searches at the residences of Nirav Modi and 11 other locations in Mumbai and Delhi in connection with the Rs 2.8 billion fraud of Punjab National Bank (PNB) allegedly by Modi and others.
ED on Wednesday registered an enforcement case investigation report under the Prevention of Money Laundering Act (PMLA) on the basis of first information report (FIR) filed by Central Bureau of Investigation (CBI) in January.
Confirming the development, an ED official said that search operation is underway and would continue for two days.
Sources said the enforcement agency is looking at whether
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