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Serious Fraud Investigation Office summons two leading bankers; in PNB scam case

Rs 12,636-crore fraud was allegedly perpetrated by billionaire jeweller Nirav Modi

In a significant development, the Serious Fraud Investigation Office (SFIO) on Monday summoned ICICI Bank chief Chanda Kocchar and Axis Bank’s Shikha Sharma in the ongoing probe of the multi-crore Punjab National Bank (PNB) fraud case.

According to certain sections of the media, the ICICI Bank led a consortium of 31 banks that lent money to Mehul Choksi’s Gitanjali Group.

However, it is also being said that the senior officials of these banks are only being questioned for clarifications and not as accused in the fraud case.

It need be mentioned that the Central Bureau of Investigation (CBI) on Monday had detained Vipul Chitalia, vice president (banking operations), Gitanjali Group, at Mumbai airport in the PNB case.

The Rs 12,636-crore fraud was allegedly perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.

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