The Government has ordered investigation into the affairs of 107 companies and 7 LLPs under the provisions of Section 212(1)(c) of the Companies Act, 2013 and Section 43(3)(c)(i) of Limited Liability Partnership Act, 2008 on 17.02.2018 belonging to Mr Nirav Modi (Firestar Diamond group) and Mr Mehul Chinubhai Choksi (Gitanjali Group) to be carried out by the Serious Fraud Investigation Office (SFIO) connected with Punjab National Bank Fraud wherein all matters in their entirety will be examined. The investigation is under progress.

This was stated by Shri P.P. Chaudhary, Minister of State for Corporate and Law & Justice in Lok Sabha today.

Corporate investigation orders target group companies and LLPs under SFIO probe linked to bank fraud. An SFIO inquiry has been ordered into 107 companies and 7 LLPs linked to Nirav Modi and Mehul Chinubhai Choksi under Section 212(1)(c) of the Companies Act, 2013 and Section 43(3)(c)(i) of the Limited Liability Partnership Act, 2008 in connection with the Punjab National Bank fraud; the Government ordered the probe on 17 February 2018 and the investigation is ongoing.