PNB fraud: CBI questions 3 officials from Indian banks’ branches abroad
New Delhi: The Central Bureau of Investigation (CBI) on Wednesday questioned three officials from foreign branches of Indian banks for extending credit facilities to companies of absconding billionaire jewellers Nirav Modi and Mehul Choksi, officials said.
Two officials of Canara Bank’s branch in Bahrain, including its branch manager, and an official of Bank of India’s branch in Antwerp in Belgium were questioned by a CBI team in Mumbai, they said. The cases pertain to issuance of fraudulent Letters of Undertaking (LoUs) and credit facilities of more than $2 billion to companies of Modi and Choksi.
The branches of Canara Bank and Bank of India in Bahrain and Antwerp respectively had extended credit facilities to the companies on the basis of the LoUs from Punjab National Bank’s Brady House branch in Mumbai, the CBI FIR has alleged.