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PNB discloses Rs 942 cr additional exposure to Gitanjali group

IANS  |  New Delhi 

The (PNB) has filed a fresh complaint to the CBI alleging it has uncovered additional exposure of about Rs 942.18 crore defraud by of companies in connection with a multi-crore fraud.

The PNB, the country's second-biggest state-run lender, filed a supplementary complaint to the (CBI) on March 4 against Gitanjali Gems Ltd, Gill India Ltd, and for the additional fraud amount.

It said a total amount therefore allegedly defrauded by the accused till date is about Rs 7,080.86 crore during 2013-17, according to a document submitted in special in on Tuesday.

The court filing said that the of companies controlled by allegedly defrauded PNB of Rs 4,8886.72 crore regarding which the CBI filed a case on February 15.

On February 22, the PNB gave an additional complaint whereby the fraud in respect of Foreign Letter of Credits increased by another Rs 1,251.56 crore.

The new disclosure takes PNB's overall exposure in the still unravelling fraud case to well over the $2 billion mark.

Choksi, the of the Gitanjali Group, was so far accused along with his nephew in over Rs 12,630 crore PNB The CBI has registered separate FIRs in connection with the case.

Nirav Modi, his wife and brother also named in the fraud.

Choksi, and his family fled to abroad in January around a month before the PNB filed first complaint against them about the fraud and they are still at large.



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

First Published: Tue, March 13 2018. 22:18 IST