PNB fraud: Gitanjali Group's vice president detained by CBI

PNB Scam: Rahul Gandhi leads Congress protest against Centre

They were asked to either appear in person or send their representatives. An executive director of the ICICI Bank also reportedly went to the SFIO office where he answered questions on the bank's exposure to Choksi's firm Gitanjali Gems.

He is the third high-ranking banker to have been called by the SFIO for the probe into the Rs 12,600-crore PNB fraud involving absconding diamantaires Nirav Mehta and his uncle-cum-business associate Mehul Choksi.

Till now, several officials of the banks have been arrested and many companies owned by Modi and Choksi were seized, in this connection.

"PNB has apprised that as per its preliminary investigation, unauthorised letters of undertaking were being issued from 10.3.2011 and the matter was detected when the bank was approached on 16.1.2018 with a request to allow buyers' credit for making payment to overseas suppliers".

The consortium comprises 30 public sector banks and nine private and multi-national banks.

Clarifying the need for summoning the bank chiefs, the official said there were discrepancies in the declarations made by the company to different banks. ICICI Bank confirmed that it is a working capital lender to Mehul Choksi.

While the SFIO is investigating the Rs 12,363-crore fraud at PNB and whether funds were siphoned off by firms separately led by the Modi-Choksi duo violating the Companies Act, the ED is believed to have found evidence that Choksi and Modi diverted money to related companies and even routed it back to banks seeking re-issue of LoUs.

Targeting Modi, Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and deputy leader Anand Sharma said the prime minister should "speak up" on the bank frauds.

"The Prime Ministers office received the complaint, RBI received the complaints, Serious Fraud Information Office (SFIO) and the Enforcement Directorate also received the complaints".

Meanwhile the Central Bureau of Investigation detained Vipul Chitalia, Vice-President of the Gitanjali Group of Companies, on Tuesday as part of the investigation. "One scam after another is taking place in banks and the amount is worth thousands of crores of rupees", Azad told reporters.

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