CBI arrests PNB''s GM-rank officer in fraud case

NEW DELHI: The CBI has arrested a General Managerrank officer of the PNB posted at the banks head office here in connection with the alleged Rs 11400crore fraud officials said

Updated At : 02:50 PM Feb 21, 2018 IST

Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody last night.

New Delhi, February 21

The CBI has arrested a General Manager-rank officer of the Punjab National Bank posted at the bank's head office here in connection with the alleged Rs 11,400-crore fraud involving billionaire jewellers Nirav Modi and his uncle Mehul Choksi, officials said.

Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody last night, they said.

It is alleged that the issuance of Letters of Undertaking (LOUs) to Nirav Modi group firms without sanctioned limits started during his tenure.

Jindal is presently posted as GM, Credit, PNB Head Office, New Delhi.

It is alleged that Rs 11, 400 crore of LOUs were fraudulently issued to the firms of Nirav Modi and Choksi. PTI