New Delhi: The CBI has arrested two officials of Punjab National Bank, including a now-retired deputy manager, and an authorised signatory of billionaire Nirav Modi’s company in connection with alleged fraudulent transactions of Rs 11,400 crore, officials said.
Gokulnath Shetty, then deputy manager (now retired), Manoj Kharat, a single window operator of PNB, and Hemant Bhat were taken into custody by the agency in connection with its FIR registered on 31 January against Modi, his companies, and uncle Mehul Choski, they said.
The FIR has listed eight fraudulent transactions worth over Rs 280 crore but based on further complaints from the bank the CBI now says the amount investigated in the first FIR is over Rs 6,498 crore, involving 150 Letters of Understanding allegedly fraudulently issued by Shetty and Kharat.
The remaining 150 fraudulent LOUs worth over Rs 4,886 crore issued for Gitanjali group of companies are part of the second FIR registered yesterday by the agency against Choksi and his companies Gitanjali Gems, Nakshatra Brands and Gili, they said.
All these LOUs were issued or renewed during 2017-18, the officials said.