ALSO READPNB fraud: Nirav Modi and Mehul Choksi's passports suspended for a month PNB fraud: Rs 49-bn unexplained funds in Nirav Modi, Choksi firms, says I-T After Nirav Modi scam at PNB, fear of sweetheart deals at other banks too PNB fraud case: ED searches Nirav Modi's residence, 11 other locations Rs 114-bn PNB fraud: Congress, BJP lock horns over Nirav Modi link
The CBI has questioned four Punjab National Bank officials in connection with Rs 114 billion alleged fraud case involving Nirav Modi. Earlier in the day, CBI carried out searches in 26 places across India after naming three companies in fresh FIR registered in case.
Three main companies named in the FIR have 36 subsidiary companies, ANI tweeted. Out of those 36 companies, 17 are in Mumbai, one in Hyderabad and rest of the companies are located out of India. Companies in India are being investigated by CBI on Friday.
Punjab National Bank (PNB), which is at the centre of India's biggest banking fraud, suspended eight more officials, including one at general manager level, for their suspected involvement in the multi-crore scam, a senior government official said. On Wednesday, 10 bank employees had been suspended after the bank reported fraudulent transactions of more than Rs 113 billion to stock exchanges.
“Searches are at locations belonging to Gitanjali group, other directors of the accused companies and other group factories and plants including offices, factories and residences,” said a CBI official.