The government has suspended the validity of passports of Nirav Modi and Mehul Choksi with immediate effect for a period of four weeks. The two are accused in the Punjab National Bank fraud case. <br/><br/>External Affairs Ministry spokesperson Raveesh Kumar said, they took the decision on the advice of the Enforcement Directorate. He said, the location of Modi is not known. <br/><br/>On a query, the spokesperson said, there was no meeting between Prime Minister Narendra Modi and Nirav Modi in Davos. He said, Nirav Modi was not the part of the official delegation.<br/><br/>The Enforcement Directorate, ED, today conducted further searches at 35 location across the country in Nirav Modi case. <br/><br/>The agency seized diamonds, gold and jewellery worth 549 crore rupees. The total seizures till now is 5649 crore rupees. Meanwhile, the ED has summoned Nirav Modi and Mehul Choksi to appear before it on 23rd of this month.<br/>'<br/>The Enforcement Directorate (ED) today issued summons against Nirav Modi and Mehul Choksi in connection with its money laundering probe in the 11,400 crore rupees fraud in Punjab National Bank. The ED has also sought revocation of passports of Nirav Modi and Choksi in this regard. <br/><br/>According to officials, both Nirav Modi and Choksi were summoned under the Prevention of Money Laundering Act (PMLA) and asked to depose within a week's time. The notices were handed over to the directors of the firms of the two businessmen as they were not in the country. While Nirav Modi runs the jewellery brand chain under his name, Choksie is the promoter of Gitanjali Gems. <br/><br/>The ED yesterday conducted searches at several places linked to Nirav Modi in Mumbai, Delhi and Gujarat, and seized diamond, jewellery and gold worth 5,100 crore rupees. The raids came after the agency filed a 280-crore rupees money laundering case against Nirav Modi, his wife Ami, brother Nishal and Mehul Choksi, following a complaint by Punjab National Bank.<br/><br/>The External Affairs Ministry today said suspension of passports of Nirav Modi and Mehul Choksi is a step towards revocation of their passports if they do not respond within one week. Replying to a media query, Ministry spokesperson Raveesh Kumar said, the location of Modi is not known. <br/><br/>On a query, the spokesperson said there was no meeting between Prime Minister Narendra Modi and Nirav Modi in Davos. He said, Nirav Modi was not the part of the official delegation. <br/> <br/>Meanwhile Reserve Bank of India today rejected the media reports that it has directed Punjab National Bank to meet its commitments under the Letter of Undertaking to other banks. In a statement, the RBI denied having given any such instructions. <br/><br/>It said the fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal controls. The RBI said it has already undertaken a supervisory assessment of control systems in PNB and will take appropriate supervisory action.<br/><br/>The media reports say that the RBI has directed Punjab National Bank to pay the entire 11,300 crore rupees owed to counter party banks in the alleged fraud involving jeweller Nirav Modi as not doing so could lead to turmoil in the financial markets.