Maiank Mehta Granted Pardon in PNB Fraud Case: Nirav Modi's Brother-in-Law Turns Approver

Nirav Modi remains a central figure in the extensive Punjab National Bank fraud case.

Mumbai:

A specialized court has granted pardon to Maiank Mehta, the brother-in-law of fugitive businessman Nirav Modi, in connection with the Punjab National Bank (PNB) scam, effectively making him an approver in the case.

On September 22, Special CBI Judge A V Gujarathi approved Mr. Mehta's plea for pardon with the stipulation that he must provide a "full and true disclosure of the whole of the circumstances within knowledge relative to offence and every other person concerned".

According to the court order, which became available on Friday, following this pardon, Mr. Mehta will now be designated as an approver in the ongoing investigation.

Mr. Mehta, who holds British citizenship and has resided in Hong Kong for approximately 35 years, faces charges in the CBI case under Indian Penal Code sections 120-B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust), and the Prevention of Corruption Act.

In his application, Mr. Mehta argued that he had previously been granted pardon in cases registered under the Prevention of Money Laundering Act (PMLA), where the predicate offence – the CBI case – remains identical.

Mr. Mehta additionally submitted that he voluntarily traveled to India in September 2021 to participate in the legal proceedings.

Attorney Amit Desai, representing Mr. Mehta, emphasized that his client has actively assisted the prosecution and the Indian government across multiple aspects of the investigation.

In his plea for pardon, Mr. Mehta expressed willingness to provide a complete and truthful disclosure of all circumstances within his knowledge related to the matter.

Public prosecutor Arvind Aghav, representing the prosecution, raised no objections to Mr. Mehta's application, acknowledging that similar pardons had been previously granted in related PMLA cases.

After considering arguments from both sides and examining the Bharatiya Nagrik Suraksha Sanhita (BNSS) provisions under which the plea was filed, the court ruled that "the accused shall be marked as approver".

The court instructed that Mr. Mehta, currently residing abroad, must present himself before the court.

The court ordered: "The prosecution shall take necessary steps to facilitate the approach of the accused to India to take part in the proceeding as soon as may be, in the facts and circumstances prevailing currently."

Absconding diamantaire Mehul Choksi and his nephew Nirav Modi are the principal accused in the multi-crore PNB (Punjab National Bank) fraud case, which is under investigation by both the CBI and the Enforcement Directorate.

They stand accused of allegedly misappropriating over Rs 13,000 crore of public funds from PNB by utilizing Letters of Undertaking (LoU) and foreign letters of credit (FLCs) through bribing officials at the bank's Brady House branch in Mumbai.

While Choksi faces extradition proceedings in Belgium, Modi remains incarcerated in a London jail.