Business Standard

PNB fraud: MoF initiates action against Allahabad Bank CEO

IANS  |  New Delhi 

The on Monday began the process to remove and MD from the post after the CBI filed a chargesheet on her alleged role in the over Rs 13,000-crore scam earlier in the day.

Ananthasubramanian, who was the Officer of the (PNB) from August 2015 to May 2017, was quizzed by the (CBI) in February.

A Ministry told IANS that the (DFS) had asked the in the to come up with a proposal before the board to strip Ananthasubramanian of her powers.

He said that the board would discuss the matter on Tuesday.

"... till now, no formal communication has been received by the bank on the matter. In the meantime, the bank has convened a meeting of its Board of Directors on May 15 to discuss the matter," the lender said in a regulatory filing.

The added that similar action was also intiated against two Directors of the

"The DFS has started action for removing and dismissing the accused officials. The departmental inquiry will continue against them separately," he said.

The CBI on Monday filed a chargesheet against Ananthasubramanian and 21 others, including 11 bank officials, over the fraud case allegedly perpetrated by diamantire and his uncle

The agency also named Directors and Sanjiv Sharan, and (International Operations) Nehal Ahad in its chargesheet filed in a special CBI court here.

So far, 19 people have been arrested in the case while Modi and Choksi are on the run.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 22:54 IST
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