Mumbai, February 16: The Enforcement Directorate (ED) on Thursday conducted a raid at a showroom of Gili Jewellers in Thane's Viviana Mall in connection with the Punjab National Bank (PNB) fraud case. The showroom was sealed after the raid.

Earlier on February 15, the agency conducted searches at 17 premises of businessman Nirav Modi and Geetanjali Gems across India in connection with the same case. The agency also seized stocks of gold, diamond and other precious stones worth Rs 5100 crore.

The raids come after the PNB detected a 1.77 billion dollar scam, in which jeweller Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders. The CBI had received the complaint from PNB on January 28 and a case was registered on January 31.