CBI arrests PNB''s GM-rank officer in fraud case

New Delhi, February 21

The CBI has arrested a General Manager-rank officer of the Punjab National Bank posted at the bank's head office here in connection with the alleged Rs 11,400-crore fraud involving billionaire jewellers Nirav Modi and his uncle Mehul Choksi, officials said.

Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody last night, they said.

It is alleged that the issuance of Letters of Undertaking (LOUs) to Nirav Modi group firms without sanctioned limits started during his tenure.

Jindal is presently posted as GM, Credit, PNB Head Office, New Delhi.

It is alleged that Rs 11, 400 crore of LOUs were fraudulently issued to the firms of Nirav Modi and Choksi. PTI

READ MORE

Employees of Nirav Modi and Mehul Choksi left in the lurch

Rahul targets PM for silence on PNB scam, Rafale deal

PNB fraud: Centre opposes plea for SIT inquiry, says probe on

CBI arrests PNB's GM-rank officer in fraud case