IndiaCatalog.com
India News
Search Web Directory
News Home
PNB fraud case: Bank employee got Rs 1 crore bribe in cheque, says CBI
Posted on 17th May 2018
MUMBAI: In the second chargesheet submitted in the Punjab National Bank (PNB) fraud case, the CBI has alleged that the bank’s retired deputy manager Gokulnath Shetty had received Rs 1 crore as illegal gratification for being part of the conspiracy.

The chargesheet alleged that the bribe amount was routed through one Debajyoti Dutta, proprietor of M/s Rishika Financials, now a witness in the case.

Shetty debited Rs 2.28 crore to Gitanjali Gems’s account with PNB as fees for Dutta for arranging Letters of Undertaking (LoUs) even though the bank had not authorised the LoUs. “Shetty compelled Dutta to part with Rs 1.02 crore as illegal gratification by way of cheques favouring himself and his family members by threatening Dutta of stopping his business,” the chargesheet said.

On Wednesday the investigating agency submitted the voluminous chargesheet in the Rs7,000 fraud case against absconding businessman Mehul Choksi, Allahabad Bank CEO (now divested of all charges) Usha Ananthsubramanium, and 16 other individuals and firms.

On Monday, the CBI submitted the chargesheet against those accused named in the first FIR in the case, including absconding accused Nirav Modi, Ananthsubramanium and 20 other individuals and firms.

The second FIR against Choksi and companies owned by him was registered by the CBI on February 15. It is alleged that the accused in this case had hatched a criminal conspiracy and had defrauded the bank to the tune of Rs7,000 crore. The CBI alleged that the fraud was perpetrated by fraudulently issuing 142 Letters of Undertaking (LoUs) to overseas banks for obtaining buyer’s credit and 58 Foreign Letters of Credit (FLCs) in favour of the three companies.

CBI said this was done without any sanctioned limit or cash margin and without making entries in the Core Banking System. The CBI said that during the investigations, 52 premises were searched and statements of 59 witnesses were recorded. It further said approximately 2,400 documents have been seized. The investigating agency said it had found evidence connected to six foreign LoUs and six FLCs worth Rs512 crore.

Others named in the chargesheet include arrested PNB employees Manoj Kharat, single-window bank operator (clerk), MK Sharma, internal chief auditor, Bechu Tiwari, chief manager in-charge of forex department, Yashwant Joshi, Scale II manager of the forex department and Prafful Sawant, Scale-I officer handling the exports section.

Other PNB employees not arrested but named in the document include executive directors Brahmaji Rao and Sanjiv Saran and general manager, international banking division, Nehal Ahad.

The chargesheet also named former and current employees of Choksi- owned companies: Aniyath Nair, former director of the Choksi-owned M/s Gili India Ltd, Nitin Sahi, manager, Gitanjali group, Kapil Kandelwal, CFO, Nakshatra group and Gitanjali group and Vipul Chitalia, vice president of the Gitanjali Group of Companies. All these accused are currently in judicial custody.

The Choksi-owned firms M/s Gitanjali Gems Ltd, M/s Gili India Ltd and M/s Nakshtra Brand Ltd have also been named in the chargesheet.

During investigation, CBI conducted searches at 52 premises and arrested several persons. A large number of witnesses were examined and voluminous documents collected. In the chargesheet, the CBI has said sanction to prosecute the public servants, including PNB employees Kharat, Tiwari, Joshi, Sawant, Sharma, Rao, Saran and former PNB MD Ananthsubramanium, was awaited from the competent authority.

Related Companies: Punjab National Bank   

Other Latest News
We do not share user data with third-parties or government, says Paytm
Posted on 26th May 2018
Digital payments company Paytm today said it does not share data of its users with any third-party or government. “We never share your (user) data with anyone: any company/ any government or any country. At Paytm, your data is yours. Not ours, or of a third party, or of the government,” Paytm said in a blogpsot today. It added that its policy allows only legally-compliant data requests from the law of the land to get access to data for necessary investigations.

After Facebook, Microsoft is building tool to spot bias in AI algorithms
Posted on 26th May 2018
After Facebook announced its own tool to detect bias in an algorithm earlier this month, a new report suggests that Microsoft is also building a tool to automate the identification of bias in a range of different Artificial Intelligence (AI) algorithms.

The Microsoft tool has the potential to help businesses make use of AI without inadvertently discriminating against certain groups of people, MIT Technology Review reported on Friday.


Google, Facebook face over $9 bn in fines under new EU data protection law
Posted on 26th May 2018
Withing hours of the European Union's (EU) General Data Protection Regulation (GDPR) taking effect on Friday, technology giants Google and Facebook have been hit with privacy complaints that could carry fines of up to $9.3 billion in total, a media report said.

With regard to privacy, Google, Facebook and Facebook-owned WhatsApp and Instagram are forcing people to adopt a "take it or leave it" approach which essentially amounts to demanding that users submit to intrusive terms of service, according to the the Austrian privacy-advocacy group Noyb.eu, CNET reported on Friday.


TCS hits a milestone
Posted on 26th May 2018
Mumbai: Shares of Tata Consultancy Services on Friday attained a milestone when its market valuation briefly crossed the Rs 7-lakh crore mark. The country's largest IT services company becomes the first listed firm to achieve this level.

During intra-day trades, the market valuation of TCS rose to Rs 7,03,309 crore. This came after its share hit a new 52-week high of Rs 3,674.


BSE IT index emerges best performer in CY18
Posted on 26th May 2018
With S&P Bombay Stock Exchange (BSE) Sensex returning merely 2.55% returns since the beginning of the year in addition to weaker performance of other indices, S&P BSE Information Technology (IT) index has emerged as the best performing index. Analysts say stronger dollar, increased digital spending, strong results and reduced external factors around immigration have resulted in the rally of IT stocks.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for PNB fraud case: Bank employee got Rs 1 crore bribe in cheque, says CBI
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for PNB fraud case: Bank employee got Rs 1 crore bribe in cheque, says CBI

Most Read News

Good news flyers! No cancellation fee if tickets cancelled within 24 hours

Ashok Leyland Q4 profit rises 40%

Infosys puts a break on fresher hiring, relying more on experienced hands

Tata Motors pulls the plug on ageing Indica, Indigo models

L&T Hydrocarbon Engineering bags orders for setting up two fertilizer plants in Bihar, Jharkhand

More India News

Photo Gallery

Kolkata(12 Images) Kolkata City
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement