The CBI arrested Vipul, who was the President ( Finance) in the ‘Firestar International/diamonds group,’ Kavita Mankikar, Executive assistant and Authorised Signatory of 3 accused firms, Arjun Patil, Senior Executive, Firestar group.
Vipul Ambani is the son of Dhirubhai Ambani’s younger brother, Natubhai Ambani.
A report by Bloomberg said that Vipul started his career at Reliance Industries in their Project & Industrial Engineering Group. He holds a degree in chemical engineering from the University of Massachusetts.
Separately, the federal probe agency also arrested Kapil Khandelwal, CFO, Nakshatra group and Gitanjali group and Niten Shahi, Manager, Gitanjali group, in connection with the fraud allegations against Mehul Choksi.
Nirav Modi, the alleged mastermind of the PNB scam, is related to Mukesh Ambani as the former’s brother was married to the latter’s niece in 2016.
Nirav, who left India in the first week of January with his wife, brother, and uncle Choksi, had recently written to the PNB admonishing the bank for having gone public with the disclosure on money owed by him.