Mumbai, July 27: In a major breakthrough for the Ministry of Corporate (MCA) Affairs, the United States Bankruptcy Court on Thursday has ordered issue of summons for examination of documents of Nirav Modi, Mihir Bhansali, and Rakhi Bhansali. According to a report published in Moneycontrol, The US court has also recognised the claim of Punjab National Bank (PNB) on proceeds of any asset sold by the US debtors of the Nirav Modi entities. Mihir was a senior official at Firestar International, Nirav Modi’s flagship firm. Rakhi is Mihir’s wife.

The court’s order now authorises to gather documents from Modi and his aides. The MCA filed the petition in the US Bankruptcy Court on February 26, this year. In the petition, the ministry sought that the PNB should be made the party in case of selling any assets of his firms. Moneycontrol accessed the order, which states, “The Bankruptcy court also has signed a stipulation recognising PNB’s agreement with the Chapter 11 Trustee that proceeds of any asset sales by the US debtors will be subject to PNB’s claims of constructive trust regarding the Modi entities.”

The order is also important as it will help in tracking Nirav Modi and will also make his extradition easier. Today, the Enforcement Directorate filed a chargesheet in a Mumbai Court alleging co-accused Mehul Choksi as the ‘mastermind’ behind the PNB scam worth Rs 13,400 crore. Choksi is also Nirav Modi’s uncle. According to the latest reports, Antigua has given citizenship to Choksi.

(The above story first appeared on LatestLY on Jul 27, 2018 06:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).