Modi is at the centre of over Rs 12,700 crore Punjab National Bank fraud along with his uncle Mehul Choksi, owner of Gitanjali groups. The ED has also issued a provisional order for attachment under the Prevention of Money Laundering Act (PMLA).
In response to the second summons, Nirav said he can not appear before the agency owing to his business commitments. Meanwhile, the USA court granting relief to Mr. Modi from creditors warned in its order, "Creditors who violate the stay can be required to pay actual and punitive damages and attorney's fees".
"Still working overseas as I continue to be very engaged in trying to deal with businesses that I am involved with outside of India".
A Look Out Circular, known as a blue corner notice, has already been issued against Mr. Modi and Mr. Choksi to keep a tab on their entry at all land, air and sea ports in India. Venegoankar told the court the ED registered a case against Nirav Modi on February 15 and from that time issued three summonses to him to appear before the agency. In reply to the third summons, the businessman raised the issue of his security, the ED counsel said.
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But in all three replies, Modi had sought pardon from making a personal appearance before the investigating officer and asked the ED to ask him questions via e-mail, which according to the agency "unacceptable".
"Furthermore, there were summons issued thrice in February for him to come and participate in the ongoing investigation and reveal what he knows about the case that could help the investigation", Venegaonkar added.
Earlier, the amount stated to have been defrauded by Modi and Choksi's companies stood at Rs 11,300 crore. The CBI also produced other 6 accused in the fraud before a special court seeking police custody for Gokulnath Shetty and judicial custody for the remaining five.
It is alleged that LoUs and LCs worth close to United States dollars 2 billion were issued to the companies of the unclenephew duo of Choksi and Modi from the Brady Road branch of the bank through SWIFT (Society for Worldwide Interbank Financial Telecommunication) messages.