ALSO READPNB scam: Odisha to review Gitanjali group's Rs 6-bn jewellery park project PNB Rs 114-bn fraud: How Nirav Modi was brought down by his staff Rs 114-billion fraud: Other banks did not raise an alarm, says PNB PNB fraud: Nirav Modi and Mehul Choksi's passports suspended for a month PNB fraud: Nirav Modi team given access to bank computers, say CBI sources
Former financial services secretary Rajiv Takru said he had met Dinesh Dubey only once and the latter did not raise any issue related to the loans given to Nirav Modi’s uncle, Mehul Choksi’s Gitanjali Gems. Choksi is among those accused in the Rs 110 billion fraud at Punjab National Bank (PNB).
Dubey, a former independent director of Allahabad Bank, had claimed that in 2013, he had sent a dissent note to the then government and the Reserve Bank of India (RBI) against the decision to provide loans to Gitanjali Gems.
These loans were given on Letters of Understanding (LoUs) issued by PNB and were one of the key factors leading to the fraud. Dubey added he had resigned after being pressurised to go along on the loan. Takru was then the financial services secretary from January 2013 to May 2014.
Takru said he had met Dubey when the latter had offered to resign as director in Allahabad Bank. “Dubey offered to resign on personal grounds and not due to any issues related to the bank,” said Takru. Nor did he raise any issue of the loans to Gitanjali Gems or LoUs by PNB, he added.
“Dubey was appointed much before I became financial services secretary in 2013,” said Takru. He might have raised the issue of loans by Allahabad Bank through e-mails or letters, the former secretary said. On a daily basis, thousands of e-mails and letters would come on numerous issues such as loans not being passed, etc, he said.