"There is nothing, there is nothing in it," Vijay Aggarwal, a lawyer representing Modi told Reuters, referring to a police complaint filed by the state-run bank that says companies linked to the jeweller and his relatives received credit worth close to $1.8 billion between 2011 and 2017 using false guarantees supplied by two bank officials.
Aggarwal, speaking by telephone, declined to comment on Modi's whereabouts. Indian officials are on the lookout for Modi and his family, who police say left India in January prior to the case being filed.
"Everything is documented," Aggarwal said of Modi's dealings with PNB, adding that the bank had regularly levied fees on its dealings with the jeweller's firms.
According to the police complaint, the two officials at a Mumbai branch of PNB fraudulently steered credit to firms linked to Modi and entities tied to jewellery retailer Gitanjali Gems, led by Modi's uncle, Mehul Choksi.
"They're covering themselves up," Aggarwal said referring to the PNB complaint. "They want to avoid liability ... that is why they are cooking up this story."
Asked about his legal strategy, Aggarwal said "Until there's no chargesheet, there's no strategy. When there's a chargesheet, there will be a strategy."
Choksi, who has also left the country, has not commented on the matter. Gitanjali, in a regulatory filing, denied Choksi's involvement in the alleged fraud.
PNB did not immediately respond to the lawyer's comments.
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