CBI books Nirav Modi for cheating PNB

The Central Bureau of Investigation (CBI) has booked noted jewellery designer Nirav Modi, his brother Nishal Modi and Punjab National Bank (PNB) officials for cheating the bank to the tune of Rs 280.7 crore.

The action comes after the Income Tax department raided Modi's offices in Delhi, Surat and Jaipur.

Nirav Modi, an Indian born jewellery designer and founder of USD 2.3 billion Firestar Diamond, has designer jewellery boutiques across three continents - in London, New York, Las Vegas, Hawai, Singapore, Beijing and Macau.

--ANI