FIR against ex-deputy manager of PNB on graft charge

Tribune News Service

New Delhi, Oct 20

The CBI has filed an FIR against the retired deputy manager of Punjab National Bank (PNB), Gokulnath Shetty, for allegedly taking a bribe of Rs 1.08 crore from Rishika Financials, which is alleged to have arranged bank guarantees for Gitanjali Gems, a firm owned by fugitive diamond merchants Mehul Choksi.

According to CBI officials, Shetty is one of the main accused in the Rs 13,000-crore PNB fraud allegedly perpetrated by Choksi and Modi.

In the FIR, the agency has alleged that the owner of Rishika Financials, Debajyoti Dutta, was in the business of arranging quotes of Letters of Undertaking (LoUs) from foreign funding banks.

After getting confirmation from Dutta, Shetty used to issue LoUs using the international banking messaging service, SWIFT. Dutta used to work for Gitanjali Gems and had allegedly raised bills of 0.05 per cent of the LoUs issued for the firm as brokerage, it added.