CBI detects another fraud at Mumbai Punjab National Bank
CBI has also booked Manoj Hanumat Kharawat, single window operator at Brady House, and Aditya Rasiwasia and Ishwardas Agarwal, directors of Chandri Papers.
The Central Bureau of Investigation (CBI) has booked former deputy general manager of Punjab National Bank (PNB) Gokulnath Shetty, who is involved in issuance of Letters of Undertaking (LoUs) worth Rs 13,910 crore to Nirav Modi and Mehul Choksi, in yet another case of fraud from the infamous Brady House branch in Mumbai.
Just a month before retirement, Shetty, who is in CBI custody, entered into a criminal conspiracy with directors of Chandri Papers and Allied Products Pvt Ltd and issued two fraudulent LoUs for Rs 9.23 crore to SBI's Antwerp branch in April 2017. CBI has also booked Manoj Hanumat Kharawat, single window operator at Brady House, and Aditya Rasiwasia and Ishwardas Agarwal, directors of Chandri Papers. It stated that neither was there any available credit limit to the company nor did the bank retain 110% margin while issuing the LoUs.