STOCK MARKET BSE NSE

Punjab National Bank fraud fallout: CBI seals Brady House Branch in Mumbai

The CBI on Monday sealed the Brady House Branch of the Punjab National Bank as multiple probe agencies continued with their probe into the Rs 11,515 crore fraud, according to officials.

Published: 19th February 2018 11:13 AM  |   Last Updated: 19th February 2018 02:43 PM   |  A+A-

Punjab National Bank (File photo | Reuters)

By IANS

MUMBAI: The CBI on Monday sealed the Brady House Branch of the Punjab National Bank as multiple probe agencies continued with their probe into the Rs 11,515 crore fraud, according to officials.

The Central Bureau of Investigation pasted an official notice outside the branch in Fort -- the bank's flagship lending window in Mumbai and its second largest national outlet.

All have been barred from opening or entering inside this branch without prior permission of the CBI or the CBI Special Court or the CBI Competent Authority. (IANS had first named and identified on February 14 the involvement of this crucial Branch that deals with some of its biggest accounts).

Accordingly, all operations at the Brady House Branch came to a grinding halt and several bewildered staffers were seen waiting outside it for further orders from their bosses.

The action came two days after the Special CBI Court here remanded to police custody till March 3, three accused in the PNB fraud, including two former staffers.

The accused includes retired PNB Deputy Manager Gokulnath Shetty, Single Window Operator Manoj Kharat and authorized signatory of the prime accused Nirav Modi's group companies, Hemant Bhatt.

The three were the very first arrests to be in the sensational case so far by the CBI from different parts of Mumbai and Raigad. More arrests were expected soon, officials have indicated.

Besides these, the CBI earlier named 10 other directors and officials as accused in the scam which has created a nationwide furore.

They are: Krishnan Sangameshwaran, Nazura Yashjaney, Gopal Das Bhatia, Aniyath Shivraman, Dhanesh Vrajlal Sheth, Jyoti Bharat Vora, Anil Umesh Haldipur, Chandrakant Kanu Karkare, Pankhuri Abhijeet Varange and Mihir Bhaskar Joshi.

The prime accused, diamond trader Nirav Modi and other associates fled the country in early January, before the massive PNB fraud came to light.

The multi-pronged action by the CBI, Enforcement Directorate and others comes five days after PNB admitted to unearthing a fraud of Rs 11,515 crore involving Modi's companies and certain other accounts in the Brady House Branch.

The fraud, which includes money-laundering among others, concerns the Firestar Diamonds group in which the CBI last week booked Modi, his wife Ami, brother Nishal Modi and their uncle Mehul Choksi.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp