देश

Scam not possible without high level protection, PM should answer, says Rahul Gandhi

CBI has arrested Gokulnath Shetty, the then Deputy Manager (now Retired) of Punjab National Bank (PNB) and Manoj Kharat, SWO (Single Window Operator) PNB, and Hemant Bhat Authorised Signatory of the Nirav Modi Group of Firms. They will be produced before CBI special court in Mumbai on Saturday.

Even as the verbal duel between the BJP and the Congress is going on incessantly over the issuance of loans to diamond merchant Nirav Modi, the Central Bureau of Investigation (CBI) on Friday said that a majority of the Letters of Understanding (LoUs) in the Rs 11,400-crore scam were either issued or renewed by the Punjab National Bank (PNB) during 2017-18.

The CBI had on Thursday claimed that Nirav Modi and his uncle Mehul Choksi had ripped off PNB to the tune of Rs 4,886.72 crore during 2017-18 by getting 143 LoUs issued through the bank.

The FIR registered against Choksi on Thursday reads, “Accused Bank officials Gokulnath Shetty and Manoj Kharat in connivance with accused companies and directors during 2017-18 defrauded PNB to the tune of Rs 4886.72 crore in issuance of fraudulent and unauthorised LoUs in favour of foreign branches of different India-based banks and purported LCs (Letters of Credit) in favour of foreign suppliers of the accused companies.”

“Funds raised were meant to be used for payment of import bills of accused companies whereas it was dishonestly and fraudulently utilised for discharging the earlier liabilities on account of buyer’s credit facility by overseas branches of Indian banks,” said the FIR.

CBI sources said that many old LoUs were renewed in 2017 and they were investigating the dealings that took place between 2014 and 2017.