The Central Bureau of Investigation (CBI) has filed a charge sheet against Allahabad Bank’s managing director and chief executive officer Usha Ananthasubramanian. Before joining Allahabad Bank she was the CEO & MD of Punjab National Bank in 2016. The charge sheet has been filed to investigate the Rs 13,000 crore fraud allegedly committed by diamond merchant Nirav Modi. Also Read - Will Nirav Modi Be Finally Sent Back to India? Judgment Day in UK Extradition Case on February 25
Ananthasubramanian served PNB between August 2015 and May 2017. Two executive directors KV Brahmaji Rao and Sanjiv Sharan will also be investigated By CBI. Also Read - Nirav Modi's Brother Arrested in New York For Defrauding LLB Diamonds of $2.6 Million
Nirav Modi along with his uncle has been named in the huge scam, which PNB disclosed in February leading to a massive turmoil in the banking system of the country. Shares of public sector banks took a massive beating due to lack of transparency in their dealings. Also Read - PNB Fraud Case: UK Court Rejects Fugitive Nirav Modi's Bail For 7th Time
Currently, the charge sheet which is filed by CBI is against the fraud committed by Nirav Modi. As reported, a separate charge sheet will be filed later which involves Modi’s uncle.
The government on April 12 said it was awaiting a response from Hong Kong authorities on its request for the provisional order of arrest of Nirav Modi. Raveesh Kumar, the spokesperson of the Ministry of External Affairs, said India has requested the Hong Kong authorities to surrender Nirav Modi based on the extradition agreement for the surrender of fugitive offenders signed between the two sides in 1997.
With Inputs from PTI