PNB scam: CBI issues non-bailable warrant against Nirav Modi, Mehul Choksi
Nirav Modi- Mehul Choksi
The CBI recently questioned three Chief General Managers and one General Manager of the Reserve Bank of India (RBI)
A non-bailable warrant has been issued against Nirav Modi and Mehul Choksi in the multi-billion dollar PNB scam. According to reports, a special CBI court in Mumbai court allowed CBI's application for issuing a non-bailable warrant against both the accused.
The Central Bureau of Investigation on Friday questioned a former Deputy Governor of the Reserve Bank, HR Khan, in connection with alleged Punjab National Bank fraud case worth Rs 12,600 crores (1.9 billion) and relaxation of gold import policy by the erstwhile UPA government, sources said today.
The CBIrecently questioned three Chief General Managers and one General Manager of the Reserve Bank of India (RBI), officials said.
Nirav Modi and Mehul Choksi have been accused of defrauding banks by raising loans from overseas branches of Indian lenders using Rs 12,600 crores of fraudulent guarantees issued by rogue Punjab National Bank staff at a Mumbai branch.
The fraud, which is being investigated by the CBI and other enforcement agencies, is the biggest in the country's banking history.