current news

Mumbai PNB Branch Sealed, CBI Questioned top Nirav Modi Executive

Punjab National BankMumbai Punjab National Bank Branch Sealed, CBI Questioned top Nirav Modi Executive

New Delhi: Another senior official of the jeweller’s Firestar International Company, Vipul Ambani, was reportedly questioned on Sunday along with other officials.

 Nirav Modi’s Chief Financial Officer has been summoned by the CBI, which is investigating a Rs.11,400 crore Punjab National bank (PNB) scam to benefit the billionaire jeweller to stars in India and abroad.

Another senior official of the jeweller’s Firestar International Company, Vipul Ambani, was questioned on Sunday along with other officials. Nirav Modi’s CFO Ravi Gupta has been called for questioning in Mumbai.

 The CBI has also questioned 11 officials of PNB over the fraud involving fake Letters of Undertaking or LoUs put out by former bank officers to help Nirav Modi, his uncle Mehul Choksi – who controls Gitanjali Jewels – and others get credit from banks overseas.

The investigating agency also sealed PNB’s Brady House branch in Mumbai, where the fraud took place.

It has written to all banks asking them to report any similar fraud involving fake guarantees in the form of LoUs.
On Saturday, the agency arrested former PNB Deputy Manager Gokulnath Shetty,
single window operator Manoj Kharat and group’s authorised signatory Hemand Bhat

for their role in issuing fake guarantees at a huge cost to the taxpayer.

Gokulnath Shetty has reportedly admitted that he used his access to a Level-5 password,
the key for SWIFT software used to issue Letters of Undertaking.
He allegedly shared the password with employees and directors of Nirav Modi’s company.

The scam surfaced in January when the companies of Nirav Modi and Mehul Choksi approached the PNB’s Brady House branch for fresh Letters of Undertaking for making payments to suppliers.

When the bank investigated past transactions, it found no record of such guarantees in the books.

FOR MORE LATEST NEWS AND UPDATES CLICK ON FOLLOWING LINKS

www.aonepunjabitv.com
facebook : aonetvpunjabi
twitter : AonePunjabi
youtube : AONE PUNJABI TV

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

Facebook

Copyright © 2017 Aone Punjabi TvThemetf

To Top
Show Buttons
Hide Buttons
%d bloggers like this: