The company, in a statement to bourses, said that Chief Financial Officer (CFO) Chandrakant Karkare, Vice President (Compliance and Company Secretary) Pankhuri Warange and board member Krishnan Sangameswaran has resigned in the wake of scam that left country shocked.
The FIR also names two former bank employees for alleged direct involvement in the fraudulent transactions. The CBI also filed a fresh FIR against Choksi and Gitanjali Gems, the company he promoted. The source of funds and creditworthiness of the overseas companies were not explained properly, the IT department said in its report.
Congress on Tuesday said the contents of a letter by Nirav Modi to the PNB reflects an arrogance that emanate from his assurance that he would get away "scot free" in the multi crore PNB scam allegedly using his connections in NDA regime. The IT department said the asssess had not been able to provide necessary supporting documents of creditworthiness of Purvi Mehta or Islington.
Observing that the investigation had not moved forward because the complainant and the accused were trying to reach an out-of-court settlement, the judge told the police to file a status report.
The ED yesterday continued its raids, covering 10 places in the city, apart from others across the country over the last many days; a total of 39 places was raided on Monday and booty worth R22 crore was seized. Till Saturday, diamonds, gold and jewellery said to be valued at Rs 5,674 crore had been seized.
As per the assessee's own valuation, the property is worth about Rs 1200 crore.
It had found that the units in the SEZ diverted high quality diamonds imported for processing and export, to the domestic market for huge profit.
The stock tanked 4.92% to Rs26.10-its lowest trading permissible limit for the day-on BSE on Thursday. The regulator had asked the investigating team to complete the probe within six months, but it has not been done yet.