PNB scam: CBI questions 13 PNB officials

ANI | Updated: Feb 19, 2018 21:01 IST

New Delhi [India], Feb 19 (ANI): The Central Bureau of Investigation (CBI) on Monday questioned 13 officials from Punjab National Bank (PNB) in the Nirav Modi fraud case.

CBI questioned officials at the General Manager level from that period. Four employees from Nirav Modi's company were also quizzed today.

Further, the law enforcement agency is still searching Brady House in Fort in Mumbai.

Ravi Gupta, Chief Financial Officer of diamond merchant Nirav Modi's firms was also questioned by CBI.

On a related note, the Central Vigilance Commission (CVC) asked the PNB and Ministry of Finance officials to submit a report on how the scam took place, despite monetary regulations being in place.

CVC has given the bank 10 days to prepare and submit the report.

Earlier, officials from PNB, Reserve Bank of India (RBI) and Department of Financial Services gave a two-hour long presentation to CVC about the case.

The law enforcement agency has asked for names of officials who were involved in the scam and sought identification of officials who could have taken action and prevented it.

Further, after meeting with PNB and Finance Ministry officials today, the Central Vigilance Commission also had a meeting with Central Bureau of Investigation (CBI) officials.

For the unversed, Punjab National Bank detected a 1.77 billion dollars scam in which jeweler Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

The scam was started in 2011 and was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies.

Meanwhile, the PNB filed a second complaint with the CBI on February 13.

The CBI had received the complaint from PNB on January 28 and a case was registered in the case on January 31. (ANI)