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giftedviz.com September 18, 2018


CBI Files Chargesheet in Nirav Modi Case, Names ex-PNB Head

15 May 2018, 11:12 | Austin Hogan

PNB scam: CBI files its first charge-sheet

CBI files chargesheet in Nirav Modi case names former PNB chief other top officials

This move came on the heels of the Finance Ministry writing a letter to the PNB suggesting "appropriate decision", a PNB spokesperson said.

The CBI on Monday submitted a 7,500-page chargesheet in the Rs 6,498.2-crore Punjab National Bank (PNB) fraud, in which the main accused, diamantaire Nirav Modi, is absconding.

Ananthasubramanian has been named in a Central Bureau of Investigation (CBI) charge-sheet in connection with the alleged Rs 13,500 crore fraud at the Punjab National Bank.

The two PNB executives and Ananthasubramanian did not respond to multiple calls and messages seeking comment, while Allahabad Bank was not reachable for comment.

The central government owns controlling stakes in state-run lenders including Allahabad Bank and PNB. The sources confirmed to PTI that the Allahabad Bank board is likely to meet in a day or two. In a statement to the stock exchanges, Allahabad Bank said the RBI has advised it of certain additional actions, which are restriction in expansion of loans, reduction in exposure to un-rated and high-risk advances, and to restrict creation of non-banking assets. Filed in a special Mumbai court, the chargesheet also names several other top officials of the bank.

The chargesheet filed on Monday is based on CBI's FIR registered on January 31 against Nirav Modi, his wife Ami, brother Nishal, and uncle Choksi, among others.

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Kumar said there is a set process for the removal and dismissal of directors from the board of a bank.

Apart from Ananthasubramanian, the government has also initiated the removal of 3 board level officers and 2 ED officers of PNB, Kumar said. Disciplinary actions were initiated under Section 8 of Bank Nationalisation Act and we will take strong action if wrongdoing is found against management of banks. "One notice was issued 10 days back".

The agency also made it clear that the naming of Ananthasubramanian in the charge sheet does not mean that her predecessors have been given clean chit as the investigation is going on, they said.

When asked about action against two MDs named in the FIR related to loans given to Aircel by IDBI Bank, he said, "You can not take action only on hearsay".

When asked about action against two MDs named in the FIR related to loans given to Aircel by IDBI Bank, he said, "I would like to make it clear that you can not take action only on hearsay".

CBI Spokesperson Abhishek Dayal said that the CBI has searched 42 premises, arrested 15 persons and questioned 80 witnesses in the case.



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