State vs Mehul Choksi — PNB fraud case

Nirav Modi and his uncle Mehul Choksi are accused of orchestrating a massive fraud at Punjab National Bank's Brady House Branch in Mumbai by allegedly obtaining fraudulent Letters of Undertaking (LoUs) without following due process, causing losses estimated between ₹13,000–14,500 crore to the bank. The CBI registered an FIR and has filed multiple chargesheets before a Special CBI Court in Mumbai — the ED has conducted parallel PMLA proceedings and attached assets worth over ₹18,000 crore. Both primary accused remain at large outside India: Nirav Modi is held in UK custody pending extradition, and Mehul Choksi was arrested in Belgium in 2025 with an Antwerp appellate court having cleared his extradition to India. The domestic trial before the Special CBI Court in Mumbai is ongoing, with supplementary chargesheets continuing to be filed as recently as March 2025.

The Enforcement Directorate arrested Gautam Kundu, the chairman of the Rose Valley group of companies, in connection with an ongoing investigation into a chit fund scam. The case involves allegations of financial irregularities and illegal collection of funds from the public.

The CBI chargesheeted seven persons, including former IDFC FIRST Bank Sector-32 branch manager Ribhav Rishi, in an alleged fraud involving Rs 340 crore siphoned from Chandigarh civic funds. The chargesheet identifies the former bank manager as the alleged principal mastermind. The case involves 87 fraudulent transactions.