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Monday, May 7, 2018

CBI quizzes Chartered Accountant of Nirav Modi’s sister The investigative agency is probing if Nirav Modi used her or any entities associated with her to route funds, a report suggests


The Central Bureau of Investigation (CBI) has reportedly interrogated a senior Mumbai-based Chartered Accountant (CA) who has been an investment adviser to the sister of fugitive Nirav Modi.
The investigative agency is probing if Modi used her or any entities associated with her to route funds, , according to a report by The Economic Times.. Moneycontrol couldn’t independently verify the information.

The report adds that the well-known CA, who specialises in areas such as foreign exchange, financial derivatives and hedging, was quizzed for three days by the agency.
Purvi Mehta, Nirav Modi's sister, and her family are settled in Hong Kong.
The Income-Tax and enforcement authorities had unearthed transactions where Firestar International, Modi’s firm, had received over Rs 270 crore from Singapore-based Islington International Pte, which was reportedly connected to his sister.
A person familiar to the matter told the newspaper, “Modi’s sister and her husband, who is a business man, are residents of Hong Kong since many years. Like many NRIs hiring the services of Indian chartered accountants, they, too, had theirs. But besides advising possible investments in India, the accountant concerned also guided the family on investments in other destinations.”
“They may have come across emails or papers which indicate his role. They will look into whether Modi used sister’s offshore outfits to park and subsequently transfer unaccounted money or carry out round-tripping of fund,” another person said.

Moneycontrol News@moneycontrolcom

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