PNB Fraud: CBI files chargesheet naming Modi, Choksi, former chief of PNB Bank

In its first chargesheet filed with regards to the over Rs. 13,000 crore Punjab National Bank scam, CBI books Nirav Modi, Mehul Choksi and the former MD & CEO of PNB, who now holds the same position in Allahabad Bank.

CBI has filed a 7,800-page chargesheet in a Special Court in Mumbai. Department of Finance Secretary addressed the media announcing the action taken by the investigative agency. Among the top officials of the public sector bank named in the CBI chargesheet is Usha Ananthasubramanian who was the MD & CEO of PNB (2015 to 2017). CBI has also booked KV Brahmaji Rao and Sanjiv Sharan, both Executive Directors and Nehal Ahad, GM (International) in its chargesheet.

Also, all powers of Executive Directors of PNB and Allahabad Bank have been divested.

Meanwhile, the stock of PNB closed at Rs. 89.25 per share, up by 0.68 per cent, Allahabad closed at Rs. 44.25 per share, up by 3.07 per cent on Monday.