Everyone wants Nirav Modi: These are the 7 agencies investigating PNB fraud case
A look at the multiples agencies probing the fraud perpetrated on Punjab National Bank.
Punjab National Bank, India’s second-biggest public sector bank, stunned the country’s financial sector when it announced last week it had discovered fraudulent transactions worth Rs 11,400 crore at a single branch in Mumbai.
The case is centred around diamond billionaire Nirav Modi who allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.
A multi-agency probe is underway and investigators have been conducting searches at PNB branches and at Nirav Modi’s home and offices.
Here are the agencies involved in investigating the case:
(with agency inputs)