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A Red Corner Notice has been issued against Nirav Modi by Interpol in connection with the Punjab National Bank scam case.
Diamantaire Nirav Modi is an accused of defrauding the PNB of about Rs 14,000 crore, the biggest ever baking fraud of the country.
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Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).
A Mumbai branch of PNB had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.
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