Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody last night, they said.
BREAKING: CBI arrests a General Manager (GM) rank officer of PNB, Rajesh Jindal, who was the Branch Head at Brady House branch, Mumbai, during August 2009 to May 2011#PNBFraudCasehttps://t.co/qLT4E89bSD
— ABP News (@abpnewstv) February 21, 2018
It is alleged that the issuance of Letters of Undertaking (LOUs) to Nirav Modi group firms without sanctioned limits started during his tenure.
ALSO READ: PNB scam: Nirav's lawyer Vijay Aggarwal claims 'Modi didn't flee, was in abroad before matter came to light'
Jindal is presently posted as GM, Credit, PNB Head Office, New Delhi.
It is alleged that Rs 11, 400 crore of LOUs were fraudulently issued to the firms of Nirav Modi and Choksi.
The CBI on Tuesday arrested Vipul Ambani and four other senior executives of Nirav Modi and Mehul Choksi’s companies in the Rs 11,500 crore PNB scam.
Other than Vipul Ambani, CBI has arrested Arjun Patil, a senior executive of Fire Star group; Kavita Mankikar, executive assistant and authorised signatory of accused firms; Kapil Khandelwal, CFO of Nakshatra group and Gitanjali group; Niten Shahi, manager of Gitanjali group