CBI arrests two bankers in Nirav Modi corruption case
Action has picked up pace in case of the Punjab National Bank fraud case after the episode of absconding businessman Nirav Modi emerged out in the open.
Central Bureau of Investigation has arrested two bankers and a top official in the case.
It need be mentioned that PNB fraud is said to be to the tune of Rs. 11,300 crore.
The arrests are part of huge crackdown by central agencies that have carried out at searches at over two dozen locations across the country over the last two days.
The Enforcement Directorate, which has seized over 5,600 crores worth of diamonds, jewellery and gold in searches at showrooms and offices linked to Nirav Modi and his uncle Mehul Choksi are continuing.
The arrests are, however, the first in the case.
Information received suggests that a retired PNB deputy manager Gokulnath Shetty and another bank official Manoj Hanument Kharat have been placed under arrest after the CBI questioned them for several hours.
The interrogation was aimed at figuring out how they were able to pull off what is being described as Indian’s biggest banking fraud.
The accused Shetty was a deputy general manager in the foreign-exchange department looking after import payments and he retired only last year.
Also arrested is Hemant Bhatt, the authorized signatory of the companies run by Nirav Modi, his wife, brother Nishal and uncle Mehul Choksi. >