Mehul Choksi and his nephew Nirav Modi are the prime accused in a scam, being probed by both the CBI and ED. They are accused of siphoning off over Rs 13,000 crore from the PNB using Letters of Undertaking and Foreign Letters of Credit by bribing officials

Following his arrest in Belgium in April this year, Choksi had moved the plea before the court hearing cases under the Prevention of Money Laundering Act (PMLA) to dismiss the Enforcement Directorate (ED)`s application to declare him an FEO