A SPECIAL court in Mumbai on Wednesday sent five persons arrested in connection with an alleged fraud at Punjab National Bank (PNB) to CBI custody till Friday. The agency has claimed that fraudulent transactions, worth Rs 9.09 crore, were made similar to the ones involving diamantaires Nirav Modi and Mehul Choksi.
The CBI claimed before the court that the five — all PNB staffers — had not complied with the procedures of the bank, leading to issuance of fraudulent letters of undertaking to a private company, Chandri Papers.
On Tuesday, Bechu Tiwari, chief manager at the forex department; Yashwant Joshi, manager; Praful Sawant, officer and Mohinder Kumar Sharma, concurrent auditor in the forex department, were arrested in the case. Another accused, Manoj Kharat, a single-window operator of the forex department at PNB’s Brady House branch, was arrested on Wednesday. In all, 10 people have been arrested in the case.
On Monday, three PNB officials and two directors of Chandri Papers were arrested by the CBI. The arrests pertain to PNB’s Brady House branch, the same branch from where the earlier offences involving Nirav Modi and Mehul Choksi were reported.
Lawyer Sandeep Bali, representing Kharat, said that he was merely a clerk and the case was based on documentary evidence, which did not require his custody.
Abad Ponda, appearing for the other accused, said that their names were not in the FIR and they were only discharging their duties.