PNB refuses to disclose records pertaining to process of issuing loans to Nirav Modi

The Punjab National Bank has refused to disclose records pertaining to the process of issuing loans to Nirav Modi, citing an ongoing probe into the over Rs 13,000-crore scam involving the billionaire jeweller.

PTI March 27, 2018 18:56:37 IST
PNB refuses to disclose records pertaining to process of issuing loans to Nirav Modi

New Delhi: The Punjab National Bank has refused to disclose records pertaining to the process of issuing loans to Nirav Modi, citing an ongoing probe into the over Rs 13,000-crore scam involving the billionaire jeweller.

PNB refuses to disclose records pertaining to process of issuing loans to Nirav Modi

File image of PunjabNational Bank. AP.

In an response to Mumbai-based RTI activist Anil Galgali the bank has cited section 8(1)(h) of the RTI Act to deny the information sought by him. Galgali said he had sought details of all the records including minutes of the meeting, agenda notes, total loans sought by Nirav Modi and the amount sanctioned by the bank.

The sections bars disclosure of information which would impede the process of investigation or apprehension or prosecution of offenders.

Updated Date:

also read

CBI registers disproportionate assets case against retired PNB official accused in Nirav Modi scam
Business

CBI registers disproportionate assets case against retired PNB official accused in Nirav Modi scam

Gokulnath Shetty was arrested by the Central Bureau of Investigation (CBI) in February this year after the banking fraud involving billionaire jewellers Nirav Modi and Mehul Choksi surfaced.

Business as usual at Nirav Modi's store in Singapore; curious Indian tourists visiting outlet
World

Business as usual at Nirav Modi's store in Singapore; curious Indian tourists visiting outlet

It is business as usual at Nirav Modi's high-class store in Singapore's Marina Bay Sands complex despite all the headlines on the fraud-tainted fugitive jeweller back home