Fraud case: PNB fraud case: Ex-bank deputy manager, CBI arrests Gokulnath Shetty… CBI teams visited Shetty’s flat at Rustomjee Ozone complex in west Mumbai’s Malad on Thursday and Friday and questioned his family and relatives. They were probing when the flat was purchased. How the payment was made and what the source of funds was. They also wanted to know about his bank accounts, lockers and other assets.
The CBI has alleged in an FIR (First Information Report) that accused bank officials Shetty and Kharat, in connivance with accused companies and others, defrauded PNB to the tune of Rs 4,886.70 crore.
The agency charged that the accused officers were issued fraudulent and unauthorized letters of undertakings in favor of foreign branches of different India-based banks.
The officials omitted entries of Letters of Understanding (LoUs) in the core banking system of the bank issued on behalf of the accused companies to avoid detection, a central bureau of investigation spokesperson said.
The accused in the new FIR (First Information Report) included Mehul Choksi (Managing Director Gitanjali Gems), Gokulnath Shetty (Retired Deputy General Manager of PNB), Manoj Kharat (then single window officer of PNB). Companies – Gitanjali Gems Ltd., Gili India Ltd., Nakshatra Brand Ltd., Directors of the companies, Krishnan Sangameshwaran, Nazura Yash Ajaney, Dinesh Gopaldas Bhatia, Aniyath Shivraman Nair and Dhanesh Vrajlal Sheth.
The agency has been expanded to cover of Rs 6498 crore to the accused companies of Nirvana Modi and Choksi had entered a different matter in the case of fraud of 280 million, which so far.
CBI complained in January 2018, were Punjab National Bank had alleged that companies of a branch of Nirvana Modi and Mehul Choksi Mumbai issued Rs 11,400 crore.