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PNB fraud: CBI grills general manager, gets remand of four accused

Two of the four arrested accused are from Nirav Modi's firm, one is an auditor and one an employee of the Gitanjali Group

IANS  |  New Delhi/Mumbai 

The logo of Punjab National Bank is seen on the facade of its office in Mumbai (Photo: Reuters)

The (CBI) on Monday said it questioned a of the Treasury Division of (PNB) in connection with its ongoing probe into Rs 126 billion fraud case involving diamond jeweller and his uncle of

"The agency officials Monday questioned S.K. Chand, who is a GM of the bank, in connection with the case," a CBI said here.

The also informed that a court in sent four accused arrested on Sunday to the agency's custody till March 17.

Two of the four arrested accused are from Nirav Modi's firm, one is an and one an employee of the

The CBI arrested Manish K. Bosamiya, then AGM (Operation), and Miten Anil Pandya, then - both of of Nirav Modi, for their alleged role in preparation of applications for the fraudulent Letters of Undertaking (LoUs) submitted to the PNB.

The third arrested person - Sanjay Rambhia, a in CA firm and -- was an of Nirav Modi's companies, while the fourth - Aniyath Shiv - was then of Gili Ltd.

Acoording to CBI officials, it was alleged that Nair, besides being one of the directors of the was also the authorised signatory for the applications made to the PNB for issuance of purported LoUs and letters of credit.

The CBI has to date arrested 18 persons in the case so far.

along with Choksi has been accused of defrauding the PNB of Rs 126 billion, with Rs 13 billion being added to the fraud kitty last Monday.

The CBI had filed the first FIR in the scam on February 14 against Nirav Modi, his wife Ami, brother Nishal, uncle Choksi and his firms Diamond R US, Solar Exports and Stellar Diamond.

Modi, his family and Choksi left the country in early January.

The CBI filed a second FIR on February 15 for a Rs 48.7 billion fraud against Choksi's Gitanjali Group.

Till date, the Enforce Directorate has carried out searches at over 198 locations across the country and seized properties worth nearly Rs 60 billion.

First Published: Tue, March 06 2018. 01:38 IST