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Union Finance Minister vaguely speaks on ‘PNB scam’; questions auditors’ role

The finance minister said an example should be made of the fraudulent people involved in the scam and such examples should never be repeated again

Union Finance Minister vaguely speaks on ‘PNB scam’; questions auditors’ role

His reaction has been awaited ever since the Nirav Modi and the associated PNB bank scam broke out in public domain.

But Union Finance Minister Arun Jaitley hinted at the role of the auditors for failing to detect the fraud.

He said that the scamsters will be chased and measures will be put in place to prevent such scams.

He also said that Chartered Accountants and those who control the discipline of the profession will start introspecting.

He said that it is indeed matter of concern as to what additional measures could be put in place.

The finance minister said an example should be made of the fraudulent people involved in the scam and such examples should never be repeated again.

Also without naming Nirav Modi, the main accused in the multi-crore PNB fraud case, the finance minister pointed to a section of businessmen who lack ethics and then it is not cheated.

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