Bank fraud: PNB chief quizzed

Mumbai:The Serious Fraud Investigation Office (SFIO) today questioned PNB Managing Director and CEO Sunil Mehta for five hours in connection with the Rs 12,636-crore fraud at the bank, allegedly carried out by diamond jewellers Nirav Modi and Mehul Choksi.
Mehta was seen entering the SFIO office here before 11 am and leaving around 4 pm, presumably after recording his statement.
The New Delhi-based PNB is the third lender which has been called by the SFIO in the past two days in connection with the nearly $2-billion fraud. Axis Bank and ICICI Bank officials had appeared before SFIO yesterday to record their statement, as well.
Mehta and PNB’s executive director KV Brahmaji Rao were last month called by the CBI in connection with the alleged fraud.
The CBI officials had said the examination was focused on understanding how the crime was detected by the bank, procedural issues and their violations.
They said that Mehta and Rao were not being treated as accused in the case.
The SFIO, which is the investigating arm of the Ministry of Corporate Affairs, is expected to call officials of nearly 31 banks that have an exposure to companies of Modi and Choksi.

Content Protection by

Subscribe to The Kashmir Monitor

Subscribe to our email newsletter for useful tips and valuable resources, sent out every Tuesday.

Leave a Reply

Your email address will not be published. Required fields are marked *