Mumbai: A special court on Thursday allowed the CBI’s plea to transfer a Rs 321.88 crore bank fraud case allegedly involving fugitive diamantaire Nirav Modi and others to a metropolitan magistrate court, after investigations could not establish corruption charges against public servants.The CBI moved the the court seeking to move the case to the Additional Chief Metropolitan Magistrate at Esplanade Court, as the final chargesheet will now be filed exclusively against private individuals under the Indian Penal Code.The matter was related to a complaint lodged by the deputy general manager of Punjab National Bank, Mumbai Zonal Office. The investigation involved allegations of criminal conspiracy, cheating, and dishonest abuse of official position. Among those named as accused included Ravi Shankar Gupta, Vipul Ambani, and other directors and officials representing Firestar International Limited and Firestar Diamonds International Private Limited, alongside unnamed public servants of the bank.The prosecution submitted that the investigation found no statutory corruption. Special Judge J P Darekar observed that “during investigation, no incriminating material in respect of offences under the Prevention of Corruption Act has been found against any private persons as well as public servants of Punjab National Bank” and allowed CBI’s plea to transfer the case to a magistrate.
