The Punjab National Bank scam is one of the biggest frauds in the Indian banking system. The scam is worth of Rs 11,400 crore. Billionaire diamantaire Nirav Modi is the key accused behind the massive scam. He committed fraud by colluding with few high ranking PNB officials.The scam has shocked the entire nation. The CBI and ED have registered cases against Nirav Modi based on the complaint lodged by the PNB officials. The CBI has issued a lookout notice as Nirav Modi is not in India.