Mumbai: Aniyath Sivaraman Nair, who was arrested in connection with the state-run Punjab National Bank (PNB) fraud case last week in Mumbai, said that he is being made a scapegoat in the case.
He has just signed the documents for the company and got stuck in the case, said the Ottapalam native. Personally, he hasn't committed any fraud. Even the flat that he has bought was on a bank loan, Nair told OnManorama at the court's veranda.
The four of the executives who were arrested on Sunday have been remanded in CBI custody till March 17.
The CBI advocate told the court that Nair is one of the directors of Nirav Modi's uncle Mehul Choksi-owned Gili India Ltd and 19 other companies and needs to be questioned in the fraud case.
Several applications submitted to the bank seeking letters of undertaking and letters of credit to take short-term loans abroad had the signature of Nair.
The others who were remanded include Nirav Modi-owned Firestar International’s assistant manager-operations Manish Bosamiya, finance manager Miten Anil Pandya, and auditor and co-owner of CA firm Sampath and Mehta Sanjay Rambhia.
Those who were arrested earlier, including Vipul Ambani, were sent to judicial custody. They can now approach the court for bail. Vipul, president-finance of Firestar International, is Reliance Industries founder Dhirubhai Ambani's brother's son.