New Delhi
The Central Bureau of Investigation (CBI) on Monday questioned Punjab National Bank General Manager (treasury) SK Chand in the alleged Rs 13,636-crore fraud committed by jewellers Nirav Modi and Mehul Choksi.
The investigating agency move follows arrest of four people by it on Sunday. The four arrested included two employees and an auditor of Nirav Modi’s group of companies, and a director of Gitanjali Group of Companies.
Choksi and Modi are alleged to have got Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs) of Rs 12,636 crore issued in favour of foreign branches of Indian banks based on fraudulent claims.