They searched Modis residence in Kurla, jewellery boutique in Kala Ghoda area, three company offices in Bandra and Lower Parel in Mumbai, three premises in Surat in Gujarat and showrooms in Chanakyapuri and Defence Colony in Delhi.
Replying to the Congress allegation on BJP on why Nirav Modi was a part of the delegation that went to Davos with Prime Minister Narendra Modi for the World Economic Forum in January 2018, Ravi Shankar said, "Nirav Modi reached Davos on his own".
The CBI sealed the residence on Thursday after conducting raids on February 3 and February 4. All necessary documents have been seized.
Nirav's brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a U.S. citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, officials said.
Nirav Modi and his brother Nishal, a Belgian national, left the country on January 1 this year, much before the complaint was filed by the public sector bank, while Choksi left on January 4 and Nirav's wife Ami - a United States national - left on January 6, said CBI officers.
On January 31, the CBI registered a case against Modi, his wife, his brother Nishal and business partner Choksi, for allegedly cheating PNB of over Rs.280 crore in collusion with then Brady House branch's Deputy Manager Gokulnath Shetty and single-window operator Manoj Kharat.
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He said websites dedicated to ordering and delivering flowers may have something to do with that. While roses are the real victor for Valentine's Day , decorated arrangements are a hit as well.
Technically, the bank could have stopped payment - these were actually short term loans, called buyer's credit - at any time on the "letters of undertaking" (LoUs) that it and Modi had signed, allowing Modi to pick up raw diamond from sellers overseas. "Yet, the Modi government would have us believe that this entire fraud was being perpetrated by two employees", he said.
The bank has complained to the Central Bureau of Investigation that Nirav Modi, India's richest diamond trader may be responsible in siphoning off $1.77 billion or just over 11,000 crores from its Mumbai branch. "Steps are being taken to protect the financial interest of the bank", he added.
"Whole lot of assets will be recovered".
It was obvious that the fraud was undertaken to avoid immediate detection, and all the conmen needed was time, to get out of India with their treasure. Other jewellery companies, including Ginny and Nakshatra, are also likely to be subjected to scrutiny. "We have already frozen the case", he said, adding all other banks have been alerted about the case.
Union Bank of India, SBI, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB.
PNB has also suspended 10 of its officials in connection with the case. The Enforcement Directorate is continuing raids at various places associated with the well-known jewellery designer. By previous year, the number was more than 2,000.