PNB fraud: Internal chief remanded in 14-day judicial custody
The CBI submitted before the court that Mishra was the internal chief auditor at the Brady House branch of PNB between 2011 and 2015.mumbai Updated: Mar 15, 2018 00:57 IST
In the Punjab National Bank (PNB) fraud case, a special Central Bureau of Investigation (CBI) court sent the retired internal chief auditor to 14-day judicial custody. Bishnubrata Mishra was arrested on March 1.
The CBI submitted before the court that Mishra was the internal chief auditor at the Brady House branch of PNB between 2011 and 2015. During this period, there were more than 100 fraudulent Letter of Undertakings (LOUs) issued by another arrested accused Gokulnath Shetty, without following proper procedure and without having any sanctioned limit.
“Mishra was supposed to verify the daily transactions during his tenure and report the irregularities and ensure it is rectified to protect the interest of the bank,” the CBI counsel said. “Mishra, in conspiracy with other accused, deliberately ignored to point out the issuance of illegal LOUs and allowed Shetty to open LOUs to favour Stellar Diamond, Solar Exports, Diamonds R US resulting in the loss of Rs6,498 crore.”