PNB fraud case: CBI seeks new sanction against Usha Ananthasubramanian | Latest India News
New Delhi: The Central Bureau of Investigation (CBI) has requested a fresh sanction of prosecution against former managing director and chief executive of Punjab National Bank (PNB) Usha Ananthasubramanian and former chief executives KV Brahmaji Rao and Sanjiv Sharan in the investigation against fugitive diamond dealer Mehul Choksi.
People familiar with the development said the sanction was sought from the finance ministry in the ‘destruction of evidence’ investigation against Choksi, who is accused of defrauding the public sector bank of more than ₹7,000 crore.
An indictment was filed against Choksi, Ananthasubramanian, Brahmaji Rao, Sharan and 18 others in June last year, adding ‘destruction of evidence’ (Section 201 of the Indian Penal Code, IPC) to the list of offences. in the case. They had previously been charged under articles relating to cheating, falsification, falsification of accounts and criminal association under the ICC and corruption under the Prevention of Corruption Act. corruption.
Without sharing the date when the last sanction request was made, a CBI official, requesting anonymity, said ‘it was requested last year itself, but the details have been kept secret as India pursues the extradition of Choksi”.
The central agency alleged in its indictment last year that Mehul Choksi, in collusion with PNB officials, used Letters of Commitment (LOU) and FLC (Foreign Letters of Credit) without effecting the necessary entries in the Central Banking System (CBS) system. Bank.
The indictment, reviewed by HT, also claimed the businessman believed he would be the target of criminal investigations long before the first case was filed against him on January 29, 2018. therefore traveled to Hong Kong in December 2017 to obtain his associates. to move operations to Thailand.
The allegations against Ananthasubramaniam in the Nirav Modi and Mehul Choksi investigations are that she and her team were aware of the modus operandi regarding the use of fraudulent LoUs to obtain money from foreign branches of Indian banks, but lied to this subject to the RBI and have failed to implement the Federal Bank’s circulars and warnings regarding the protection of SWIFT transactions.
She led the bank from 2015 to 2017.
Choksi, 62, is currently in Antigua and Barbuda and India is pursuing his extradition. He acquired citizenship of Antigua and Barbuda under its citizenship-by-investment program in November 2017 and lives in the Caribbean nation after fleeing India in January 2018.
CBI is also currently investigating the alleged hijacking of another ₹942 crore by Choksi companies including PNB’s Asmi Jewelery India Ltd.