The Supreme Court has asked the CBI and the ED to sit together within a week and share material with regard to the money transactions and disclosures made by Mainak Mehta, brother in-law of fugitive diamantaire Nirav Modi, who is an accused in the Punjab National Bank (PNB) fraud case.
A bench of Justices DY Chandrachud and Hima Kohli also asked Mainak Mehta to share with the CBI whatever relevant information he has on the bank accounts investigated by the probe agency.
It was hearing a CBI plea challenging the August 23 order of the Bombay High Court by which Mehta was allowed to travel to Hong Kong and stay there for three months.
“The Solicitor General for India has fairly stated that the Union of India would have no objection if a joint meeting is held between the Investigating Officers of (i) CBI; and (ii) Directorate of Enforcement, within a period of one week from today, so that the modalities for providing the information which was sought in the notice dated October 13, 2021 are chalked out and the information is made available to the CBI,” the court order said.
It said the CBI has flagged issues with regard to non-disclosure of transactions in bank accounts, including the one based in Singapore, two transactions of 8.9 million USD and 1.8 million USD transferred by the father of Nirav Modi. It said Mainak Mehta should share the details with the probe agency after which he may be considered for travelling abroad.
The bench said, “These are only bank details which you can give at any point of time. You want to travel abroad. Give the details and you can go. We don’t want to be stuck in the rigmarole”.
It noted that on October 13, 2021, a notice was issued under Section 91 of the CrPC directing Mainak Mehta to appear before the Additional Superintendent of Police, CBI, in Mumbai with documents related to his bank account in Singapore, statement of account in the name of Pavilion Point Corporation, a company controlled by Mainak Mehta, and details of bank account in Singapore in the name of Pavilion Point Corporation on October 25, 2021.
Solicitor General Tushar Mehta, appearing for the CBI, said Mehta is a British citizen and he has given some details but not made full disclosures with regard to said bank accounts and there is apprehension that he may not return to India. He spoke about 30 million USD sent by Modi which Mehta allegedly diverted and said the CBI needs to know its details.
“He (Mehta) did not cooperate in the investigation and neither appeared before the agency. He has received and diverted the money of Nirav Modi. We all know that Nirav Modi has fled the country and we are trying to bring him back through an extradition route. If Mainak Mehta also flees from the country, it would not be good for the investigating agency,” the solicitor general said. The SG said the CBI’s grievance is that Mehta has not provided any details of the account maintained in Singapore nor has he given complete details of Pavilion Point Corporation and the bank account in the name of the firm.
Senior advocate Amit Desai, representing Mehta, submitted they have made the disclosure of records which were available with him to the Enforcement Directorate but could not furnish complete details as his bank accounts are frozen. “We have given whatever details which were available with us. The Enforcement Directorate has investigated the 30 million US dollar transaction and found that we were not the beneficiary. Similarly, it has also investigated all other transactions and therefore the agency did not oppose the pardon granted by the court,” he said.
Mehta has turned an approver in the ED case and received pardon. Desai submitted Mainak Mehta would immediately call on the Investigating Officer of the CBI and indicate what steps have been taken to provide the information which has been referred to in the notice dated October 13, 2021.
The bench said Mehta has referred to his deep roots in the society and has voluntarily returned to the country which he could have avoided like other fugitives. The top court passed the order on Tuesday and posted the matter for further hearing on November 7.
On Monday, it had told the CBI that it cannot restrain Mainak Mehta from travelling abroad without any “solid material”. It has asked the agency to come up with some “solid material” in its plea challenging the high court verdict.
Desai has submitted the court has pardoned Mehta, as due to his efforts, the Enforcement Directorate (ED) was able to bring back more than Rs 500 crore to the country. On August 23, the high court had dismissed the CBI’s plea against the order of a special court dealing with Prevention of Money Laundering Act (PMLA) cases, allowing Mehta to travel to Hong Kong. The CBI wanted the PMLA court order to be stayed.
The agency had submitted in the high court that Mehta was not named as an accused in the case and his role in the PNB scam was yet to be ascertained for which he needed to be interrogated. It claimed Mehta received a large sum of money siphoned off in the PNB fraud. The money, it alleged, was transferred to his wife’s account, which needs to be probed.
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