Nirav Modi's firms faked foreign buyers: CBI chargesheet
The CBI chargesheet has revealed that two overseas suppliers, to whom fraudulent Letters of Undertaking (LoU) were issued, were controlled by Nirav Modi. The chargesheet lists 27 overseas supplier companies which received these fraudulent letters, with most of them located in New York, Hong Kong and UAE. Some of the LoUs were allegedly used for making repayments against earlier ones.