STOCK MARKET BSE NSE

PNB fraud case: Gitanjali independent director quizzed in Coimbatore 

The investigations into the multi-billion dollar Punjab National Bank scam reached Coimbatore when sleuths of the Central Bureau of Investigation (CBI) grilled one of the independent directors of the

Published: 18th February 2018 02:19 AM  |   Last Updated: 18th February 2018 04:56 AM   |  A+A-

Punjab National Bank (File photo | Reuters)

Express News Service

COIMBATORE: The investigations into the multi-billion dollar Punjab National Bank scam reached Coimbatore when sleuths of the Central Bureau of Investigation (CBI) grilled one of the independent directors of the Gitanjali Group of Companies near Vadavalli on Friday. The officials interrogated Krishnan but returned empty-handed, as they could not seize any valuable documents.

The inquiry started around 9 and lasted till noon. The CBI officials raided the houses and the office premises of Krishnan, located on adjacent streets in Kasthurinaikenpalayam near Vadavalli, sources said. CBI officials, who raided the premises, quizzed him regarding the account details of the companies. However, speaking to the media persons, Krishnan said that he had shared all the details.

Stating that he was one of the three directors in the concern, Krishnan said, “We all meet once in three months, during which we discuss and file the accounts.” The other two directors are believed to be in Pune. When asked about the fraud, he said he did not know much and evaded other questions.
Sources in intelligence confirmed that while raiding the house and office premises of Krishnan, CBI officials took an official from another nationalized bank for help. The CBI sleuths also attempted to recover the data from a hard disc in the office systems and other electronic gadgets. However, it went in vain, sources said, adding that the CBI officials would come again in another week for further interrogation.

Express found out a few of the franchisees of Gitanjali Group. Gili World functioning on TV Samy Road West in RS Puram is a franchisee of Gili, a sister concern. Similarly, another sales centre is functioning in a mall.

Raids at Chennai franchisees

After the Central Bureau of Investigation registered a fresh case against three entities of Gitanjali Group of Companies, owned by Mehul Choksi, for being part of the alleged Rs 11,400 crore Punjab National Bank fraud, the Enforcement Directorate (ED) has launched an investigation under the Prevention of Money Laundering Act against its franchisees in the city and seized jewellery worth Rs 2 crore.

A senior ED official told Express that searches were conducted on jewellery shops on Harrington Road and Velachery in Chennai on Friday and jewellery worth Rs 2 crore was seized from them. “These firms were linked to Choksi group,” the official said.

He said searches were conducted in T Nagar, Cathedral Road and Velachery on Saturday. The raided companies have been selling the jewellery of Choksi Group and are under the Enforcement Directorate scanner. The official said details were not available on the quantity of jewellery seized.


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.

IPL_2020
flipboard facebook twitter whatsapp