A special CBI court has granted a pardon to Maiank Mehta, the brother-in-law of fugitive businessman Nirav Modi, in connection with the multi-million dollar Punjab National Bank (PNB) scam. This decision allows Mehta to become an approver in the case. Special CBI Judge A V Gujarathi permitted Mehta's plea for pardon on September 22, with the condition that he makes a "full and true disclosure of the whole of the circumstances within [his] knowledge relative to [the] offence and every other person concerned". The order, which was made available on Friday, stipulates that Mehta will be marked as an approver in the case.

Mehta, a British citizen and Hong Kong resident for approximately 35 years, faces accusations in the CBI case, registered under Indian Penal Code sections 120-B (criminal conspiracy), 420 (cheating), 409 (criminal breach of trust), and the Prevention of Corruption Act. In his plea, Mehta stated that he had already been granted a pardon in cases registered under the Prevention of Money Laundering Act (PMLA), where the predicate offense is the same CBI case. The court has directed that Mehta, who is currently residing abroad, must present himself before the court. The prosecution is required to take the necessary steps to facilitate Mehta's return to India to participate in the proceedings.

Maiank Mehta had pleaded for pardon, stating his willingness to fully disclose all circumstances within his knowledge related to the case. Public Prosecutor Arvind Aghav, representing the prosecution, did not oppose Mehta's plea, acknowledging that a pardon had been previously granted in similar PMLA cases. The court, after considering the submissions from both sides and the provisions of the Bharatiya Nagrik Suraksha Sanhita (BNSS), ruled that Mehta would be designated as an approver.

Nirav Modi and his maternal uncle, Mehul Choksi, are the primary accused in the PNB scam, which involves the alleged siphoning of over ₹13,000 crore of public funds from PNB using Letters of Undertaking (LoU) and foreign letters of credit (FLC) through bribed officials at the bank's Brady House branch in Mumbai.

The PNB scam involved the fraudulent misuse of letters of undertaking (LoUs) and foreign letters of credit (FLCs). Investigations suggest that Nirav Modi, Mehul Choksi, and their associates colluded with PNB officials to obtain credit from foreign banks fraudulently, without adequate collateral. The estimated loss to PNB and its consortium of banks is over ₹13,000-13,500 crore.

The court's decision is in line with Mehta's plea seeking a pardon, as he had already been granted a pardon in cases under the Prevention of Money Laundering Act (PMLA), where the predicate offense was the same CBI case. The special CBI court granted him pardon on the condition that he would make "full and true disclosure of all circumstances within his knowledge concerning the offence and every other person involved".

Mehta's counsel, Amit Desai, argued that Mehta had consistently cooperated with authorities and assisted both the prosecution and the Centre on several aspects. CBI did not oppose the plea, noting that a pardon had earlier been extended to him in the PMLA-linked matters. Following the pardon, the court directed that steps be taken to facilitate his appearance in court at the earliest.

Maiank Mehta's wife, Purvi, Nirav Modi's sister, was also previously granted a pardon and made an approver. Mehta had submitted that both he and Purvi have assisted government agencies in facilitating the attachment and confiscation of properties in favor of the Indian government and cooperated with the investigation. The court stated that the pardon is allowed for Mehta only in his individual capacity. The pardon is granted under Section 343 of the Bhartiya Nagrik Suraksha Sanhita, 2023, which allows for granting pardon to an accomplice in a crime to obtain evidence, provided they make a full and true disclosure of all relevant circumstances.

With Maiank Mehta becoming an approver, he can now depose against other accused, including Nirav Modi, as a prosecution witness for the CBI. This development could provide valuable insights and new information into the PNB scam case.