Explorer

PNB scam: Gokulnath Shetty glued to same branch for 8 years without transfer! Why?

The Punjab National Bank (PNB) scam relates to alleged fraudulent LoU worth Rs 11,400 crore that took place at its branch in Brady House, Mumbai, making state-run bank potentially liable for the amount.

New Delhi: Gokulnath Shetty, the now-retired deputy manager of the Punjab National Bank (PNB), is the second most important person (after Nirav Modi) in the state-run bank scam case involving Rs 11,400 crore. Interestingly, Shetty was glued to one particular branch of PNB for eight long years. He was not transferred anywhere else, opposite to the rules which say that bank employees should be transferred on regular bases. Now, investigative agencies are trying to find out which top official(s) was eager to keep him on the same bank's branch for such a long time and not transferred him. The Central Bureau of Investigation (CBI) has taken into custody Shetty and is trying to find all answers. About Punjab National Bank Fraud Case: The Punjab National Bank (PNB) scam relates to alleged fraudulent Letter of Undertaking (LoU) worth Rs 11,400 crore that took place at its branch in Brady House, Mumbai, making state-run bank potentially liable for the amount. The crooked transactions are allegedly linked to diamond lover and jeweler Nirav Modi of Gitanjali Group, against whom a complaint has been filed with the CBI. The transactions were first noticed by a new employee in the bank, said reports. An Indian supporters of the Congress Party keeps his hand on the face of a cut out of billionaire jeweller Nirav Modi during a protest in New Delhi on February 16, 2018. Indian investigators on February 15 raided the premises of a billionaire jeweller accused of defrauding one of the country's biggest banks. Enforcement Directorate (ED) officers searched the Mumbai offices of Nirav Modi after he was accused of cheating state-owned Punjab National Bank (PNB) of 2.8 billion rupees ($43.8 million). / AFP PHOTO / CHANDAN KHANNA Billionaire jeweller Nirav Modi / AFP PHOTO / CHANDAN KHANNA PNB said that two of its employees at the branch were involved in the scam. Three Jewellers - Gitanjali Gems Ltd and its subsidiaries Gili and Nakshatra are also under the scanner of investigation agencies. [ALSO READ] Gokulnath Shetty's service file: Here are SHOCKING details of PNB scam's MASTERMIND
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

'Have To Save Our Families': PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
Will Sunita Kejriwal Become Delhi CM? Know Delhi Minister Atishi's Response At ABP Shikhar Sammelan
Will Sunita Kejriwal Become Delhi CM? Know Delhi Min Atishi's Response At ABP Shikhar Sammelan
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Advertisement
for smartphones
and tablets

Videos

Emotional Yet Fun Video Featuring Kapil Sharma, Tabu & Rhea Kapoor, Sharma To Star In 'Crew'ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bondsABP Shikhar Sammelan 2024: Why did BJP canceled tickets of more than 100 sitting MP's?|Anurag ThakurABP Shikhar Sammelan 2024: Anurag Thakur's gets angry on TMC-Congress over remarks on Kangana Ranaut

Photogallery

Embed widget