New Delhi: A day after the Enforcement Directorate seized movable property worth Rs 5100 crore, CBI has registered the second FIR in the Punjab National Bank (PNB) scam. The Central Bureau of Investigation (CBI) is conducting a multi-city raid on various properties of Gitanjali group of companies.
The FIR has been registered against Gitanjali Group of Companies which belong to Mehul Choksi, based on a complaint given by the Punjab National Bank on February 13. In this case, the alleged loss to PNB is estimated to be Rs 4886.72 crore. It is one of the two complaints by the bank where the total amount of estimated loss came to Rs 11,300 crore.
Searches are being conducted at 20 different premises related to Mehul Choksi, Gitanjali Group of companies, other directors of the companies. It includes factories, plants, offices and residencies of the above. These raids are on in six cities of five states, including Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
Three companies of Mehul Choksi are named in the FIR, they include Gitanjali Gems, Gili India and Nakshatra Brand Ltd. Mehul Choksi is also mentioned as an accused in it. In this complaint too, PNB has blamed the same two officials, deputy manager Gokulnath Shetty— who retired in May 2017 — and Manoj Kharat.
However CBI sources say, they feel that PNB has been economical with the truth in blaming just two employees for the entire Rs 11,300 crore scam. This especially since the bank itself has suspended 18 employees, including at least three general managers.
CBI is also raiding the residences of Shetty and Karat, who, it is alleged, in conspiracy with the top management of firms of Mehul Choksi and Nirav Modi sent unauthorised Letters of Understandings (LoUs) and Foreign Letters of Credit to overseas branches of Indian banks for release of funds to these companies’ suppliers or to clear the liabilities of these companies.
The fresh FIR involves 143 LoUs and 224 Foreign Letters of Credit. These are separate from the earlier 150 LoUs which were mentioned in the first FIR which was filed on January 31. CBI had earlier conducted raids in 21 different locations on February 3 and 4 which included residences of Nirav Modi, Ami Modi and bank officials. The first FIR named Nirav Modi, his wife Ami Modi, brother Nishal Modi, uncle Mehul Choksi and the two bank officials.
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