PNB Scam: CBI files fresh FIR against Gitanjali Group, three companies under scanner

In a major breakthrough development in the Punjab National Bank (PNB) fraud scam, three companies of billionaire jeweller Nirav Modi's relative Mehul Choksi's have been named in the Central Bureau of Investigation (CBI) FIR.

The names of the companies are: Gitanjali Gems, Gili India and Nakshatra Brand Ltd.

In this case the alleged loss to PNB is estimated at Rs. 4886.72 crores.

Meanwhile, the fresh FIR involves 143 LoUs and 224 Foreign Letters of Credit.

These are separate from the earlier 150 LoUs which were mentioned in the first FIR which was filed on January 31.

PNB has blamed the same two officials, deputy manager Gokulnath Shetty- who retired in May 2017 - and Manoj Kharat in conspiracy with private persons sent unauthorised LoUs and Foreign Letters of Credit to overseas branches of Indian banks for release of funds to accused companies' suppliers or to clear liabilities of accused companies.

CBI had earlier conducted raids in 21 different locations on February 3 and 4 which included residences of Nirav Modi, Ami Modi and bank officials.

The first FIR named Nirav Modi, his wife Ami Modi, brother Nishal Modi, uncle Mehul Choksi and the two bank officials.