Mumbai, Jan. 6 -- Fugitive jeweller Nirav Modi has alleged that the Punjab National Bank (PNB) filed a complaint of fraud against him to help the ruling party gain political mileage and to avoid its liability towards its co-bankers. Nirav made the allegation in his reply to the Enforcement Directorate's (ED) plea to declare him a fugitive economic offender.

His lawyers Ashul and Vijay Agarwal filed the reply to ED's plea on Saturday. Like his uncle Mehul Choksi earlier, Nirav too in his reply lashed out at PNB. Nirav and his associates are alleged to have defrauded PNB to the tune of Rs14,000 crore.

The reply said the allegation levelled by PNB is that letters of undertaking (LOUs) were issued to the firms connected with the accused, with...