The CBI today questioned three officials from foreign branches of Indian banks for extending credit facilities to companies of absconding billionaire jewellers Nirav Modi and Mehul Choksi, officials said today.
Two officials of Canara Bank's branch in Bahrain, including its branch manager, and an official of Bank of India's branch in Antwerp in Belgium were questioned by a CBI team in Mumbai, they said.
The cases pertain to issuance of fraudulent Letters of Undertaking (LoUs) and credit facilities of more than USD 2 billion to companies of Modi and Choksi.
The branches of Canara Bank and Bank of India in Bahrain and Antwerp respectively had extended credit facilities to the companies on the basis of the LoUs from Punjab National Bank's Brady House branch in Mumbai, the CBI FIR has alleged.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app