PNB scam: 'Key conspirator' Gokulnath Shetty refuses to undergo polygraph, narco test on health grounds
Gokulnath Shetty, in his plea, said the CBI's allegations about pecuniary gains from the PNB scam were just 'assumptions' and further investigation on this aspect was not required
PNB scam: CBI seeks permission to conduct polygraph, narco tests on 'key conspirator' Gokulnath Shetty
The anti-corruption wing of the CBI had booked Gokulnath Shetty, his wife for allegedly amassing a large number of movable and immovable properties between 2011 and 2017.
The CBI has arrested 10 people for alleged misuse of Lettter of Undertakings worth over Rs 9 crore in the Punjab National Bank's Brady House branch, the fountainhead of a $2 billion scam perpetrated by billionaires Nirav Modi and Mehul Choksi, officials said on Wednesday.
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.
According to the CBI, the executive was aware of the fraudulent letters of undertaking (LoUs) issued by PNBs former deputy manager Gokulnath Shetty in favour of Modi's firms.
PNB fraud: Fugitive jeweller Mehul Choksi confirms he received Antigua and Barbuda's citizenship via investment plan
Gitanjali Gems boss Mehul Choksi also said that his application was motivated by a desire to expand his business in the region
Make prosecution witness in PNB scam an accused, says former employee of Gitanjali Group in a plea in court
Nitin Shahi, a former assistant finance manager with the Gitanjali Group, headed by Mehul Choksi, filed the application before the special CBI court through his lawyer Vijay Agarwal.
Billionaire jeweller Nirav Modi, Allahabad Bank MD and CEO Usha Ananthasubramanian and 20 others have been chargesheeted by the CBI.
Exclusive: Days after CBI FIR in PNB scam, Nirav Modi withdrew huge sum from an Indian bank in Antwerp
PNB had alleged that its officials mainly Gokulnath Shetty and Manoj Karat of Brady House branch in Mumbai fraudulently issued LoUs without following bank’s prescribed procedures of obtaining required request applications, documents, approval of the authorities.
PNB scam: 11 people, including former deputy general manager, remanded to judicial custody till 28 March
A special CBI court in Mumbai on Saturday remanded in judicial custody till 28 March the 11 accused arrested in connection with the multi-crore Punjab National Bank (PNB) fraud case
PNB scam: CBI adds charge of criminal breach of trust to FIR; Mehul Choksi, others may face life term if found guilty
CBI told a Mumbai court that it has added charge of 'criminal breach of trust' to the case related to diamond trader Mehul Choksi's firms in PNB fraud case
Circa 1996, state-controlled Indian Bank faced a Rs 1,336 crore scam which after inflation-adjustment may compare well in size with the PNB fraud.
RBI and other agencies missed warning signs, failed to detect Rs 12,700-cr Punjab National Bank fraud
Reuters has uncovered new evidence that shows the RBI also failed for years to either detect the fraud or respond adequately to red flags in the banking system.
PNB fraud: Central agencies intensify crackdown on Nirav Modi, Mehul Choksi; assets worth Rs 5,671 crore seized
The crackdown on billionaire diamantaire Nirav Modi and his uncle Mehul Choksi intensified with the ED seizing jewellery worth Rs 22 crore, the I-T department attaching seven properties, and the CBI grilling four senior executives of his company
Punjab National Bank fraud updates: CBI questions 17 officials, ED seizes assets worth Rs 5,716 crores
The CBI virtually took control of the entire campus of Punjab National Bank's Brady Road branch in Mumbai, which is at the centre of a clossal banking fraud involving billionaire jewellers Nirav Modi and Mehul Choksi, and started an intensive search operation, officials said on Monday
PNB fraud: CBI seals bank's Brady House branch in Mumbai, multiple probe agencies continue investigation
CBI on Monday sealed Brady House Branch of Punjab National Bank as multiple probe agencies continued with their investigation into the Rs 11,515 crore fraud
Nirav Modi case: CBI grills 11 Punjab National Bank officials, also questions Firestar International CFO Vipul Ambani
Punjab National Bank has complained about fraudulent issuance of LoUs and Letter of Credits (LCs) to companies of Nirav Modi and his uncle Mehul Choksi
PNB fraud: CBI questions 11 bank officials, Nirav Modi's staffer Vipul Ambani; asks banks to report irregularities in LoUs
CBI questioned 11 PNB officials as well as Vipul Ambani, the chief financing officer of diamond merchant Nirav Modi's Firestar Internationl company
Nirav Modi fraud: PNB's in-house probe gives clean chit to auditors, blames foreign branches of Indian banks
Even before the investigating agencies begin their probe, an in-house inquiry by state-owned Punjab National Bank (PNB), which was allegedly defrauded of Rs 11,360 crore by diamond merchant Nirav Modi and his maternal uncle Mehul Choksi, has given a clean chit to its auditors and blamed foreign branches of Indian banks.
Punjab National Bank officials used to take percentage commissions in lieu of issuing letters of undertaking and foreign letters of credit to diamond czar Nirav Modi and his partner Mehul Choksi and their firms, according to the probe into the Rs 11,300 crore banking scam