NEW DELHI: The Central Bureau of Investigation has registered a fresh case of fraudulent issuance of Letters of Undertaking (LoU) worth Rs 9 crore by Punjab National Bank’s Brady House Branch to a Mumbai-based firm.
It conducted searches at the premises of the accused firm and its directors.
The PNB is embroiled in nearly Rs 14,000 crore credit fraud case involving diamantaires Nirav Modi and Mehul Choksi.
The latest case was registered by the CBI on March 9 following a complaint from PNB deputy general manager Avneesh Nepalia the same day.
“It is alleged that for the issuance of the two LoUs, neither was there any available credit limit to the (accused) company Chandri Paper & Allied Products Pvt Ltd, nor any 110 per cent margin retained by the bank,” the FIR said.
The agency has booked former deputy manager of PNB’s Brady House Branch Gokulnath Shetty and Single Window Operator Manoj Hanumant, besides the directors of Chandri Paper & Allied Products Pvt Ltd, Aditya Rasiwasia and Ishwardas Agarwal.
Both Shetty and Hanumant are accused in separate cases registered by the CBI in connection with the fraud relating to Modi and Choksi.