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Wednesday, July 18, 2018

PNB fraud: Crucial documents recovered from chawl, says CBI

CBI sources said that during interrogation it was revealed that some documents related to applications for letters of undertaking issued by PNB were hidden in a chawl in Wadala.

Written by Deeptiman Tiwary | New Delhi | Published: March 2, 2018 2:44:20 am
PNB fraud: Crucial documents recovered from chawl, says CBI The information came as a surprise to CBI officers since they have already searched all premises connected to Modi and Choksi and seized necessary documents.

Some very crucial documents related to the Punjab National Bank (PNB) fraud have been recovered by CBI from a chawl in Wadala area of Mumbai. The agency on Thursday conducted searches at two locations in Mumbai in connection with the Rs 12,636-crore loan fraud pulled off by diamantaires Nirav Modi and his uncle Mehul Choksi.

CBI sources said that during interrogation of one of the accused in the case, it was revealed that some documents related to applications for letters of undertaking (LoUs) issued by PNB in favour of companies owned by Modi and Choksi were hidden in a chawl in Wadala.

The information came as a surprise to CBI officers since they have already searched all premises connected to Modi and Choksi and seized necessary documents. “Of course, it was not expected that they would hide documents in a run-down chawl in Wadala,” a CBI officer said.

“The raids were conducted last night and some very important documents related to LoU applications were recovered from a small room in this chawl at Wadala,” CBI spokesperson Abhishek Dayal said.

Though there are some dummy directors mentioned in the CBI FIR on Choksi who live in chawls, Dayal clarified that the Wadala chawl is not one of these chawls. The agency is scrutinising the recovered documents and is likely to question PNB officials in this regard.

The bank had fraudulently issued more than 300 LoUs to companies of Modi and Choksi who allegedly withdrew over Rs 12,000 crore from overseas branches of Indian banks.

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