PNB fraud: CBI files supplementary chargesheet against Mehul Choksi, Gitanjali Group companies

The Central Bureau of Investigation (CBI) on Wednesday filed a supplementary chargesheet against billionaire jeweller Mehul Choksi and his companies under the Gitanjali Group in connection with the over Rs 14,000 crore scam in the Punjab National Bank (PNB).

In its chargesheet filed in the CBI special court, in Mumbai, the agency has also charged 16 other entities, besides Choksi and his companies, with criminal conspiracy, cheating and provisions under the Prevention of Corruption Act.

The PNB reported a Rs 13416.91 crore ($1.98 billion) fourth-quarter net loss on Tuesday, the biggest-ever by an Indian lender as the state-run bank booked provisions to cover the massive fraud, allegedly perpetrated by Choksi and his nephew, jeweller Nirav Modi.

The CBI, on Monday, filed its first chargesheet in what is now the country's largest financial scam, detailing the alleged role of the bank's former chief Usha Ananthasubramanian.

The first chargesheet, filed in a special court in Mumbai, also names several other top officials of the bank. Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017 and has been questioned by the CBI in connection with the case.

With inputs from PTI

Updated Date: May 16, 2018 14:52 PM

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