Mumbai, Mar 7 PNB managing director and CEO Sunil Mehta today appeared before the Serious Fraud Investigation Office (SFIO) here to record his announcement in the about Rs 12,700 crore scam at the bank.
The New Delhi-based Punjab National Bank is the third loan specialist which has been called by the SFIO in the last two days regarding the USD 2 billion fraud, professedly executed by diamond traders Nirav Modi and Mehul Choksi.
Mehta was seen entering the SFIO office here before 11 AM.
Axis Bank and ICICI Bank officials had appeared before SFIO yesterday to record their statement in the case.
Mehta and PNB’s executive director K V Brahmaji Rao were a month ago called by the CBI regarding the claimed extortion.
The CBI authorities had said the examination was focused on understanding in the matter of how the wrongdoing was recognized by the bank, procedural issues and their infringement.
They said that Mehta and Rao were not being dealt with as charged for the situation.
The SFIO, which is the investigating arm of the Ministry of Corporate Affairs, is relied upon to call authorities of about 31 banks that have a presentation to organizations of Modi and Choksi.
Officials of all the banks that have given loans companies of Modi and Choksi in last maybe a couple years are probably going to be called first by the SFIO for recording their announcement regarding the trick, said a banker.
The PNB had a month ago said it had identified deceitful exchanges worth Rs 12,700 crore at one of its branches in Mumbai.
The transactions were completed by Modi by allegedly acquiring fraudulent letters of undertaking (LoU) from the moneylender’s Brady House branch in Mumbai to secure abroad credit from other Indian lenders.
The CBI has so far captured over twelve people, including former and current officials of PNB and companies identified with Modi and Choksi, regarding the case.