New Delhi, May 22: In its charge sheet against them, the CBI has alleged that Allahabad Bank MD and CEO Usha Ananthasubramanian and other senior officials were in the know of diamond merchant Nirav Modi’s fraudulent dealings yet they kept the RBI in the dark, said media reports. Taking cognizance of the charge sheet, a special CBI court has allowed the agency to issue fresh non-bailable warrants against Nirav, his brother Nishal, and Nirav Modi group executive Subhash Parab, reported PTI. Before joining Allahabad Bank, Ananthasubramanian served PNB between August 2015 and May 2017.Also Read - Aryan Khan's Arrest Highlights: No Mannat For SRK's Son, Bail Hearing Likely on Wednesday
The CBI said the RBI had sent several questionnaires to the PNB, seeking to know what procedures or measures the bank follows before issuing Letters of Understandings and Letters of Credit. “This was duly dealt by accused Ananthasubramanian and the bank’s Executive Directors – K V Brahmaji Rao, Sanjiv Sharan and Nehal Ahad and instead of replying to the queries, Ahad and the general manager of the International Banking Division of the bank’s headquarters prepared a misleading reply and sent it to the RBI after getting the same approved by Sharan,” the CBI said. The charge sheet claimed that a similar fraud was detected in 2016 following which the RBI took up the issue and issued circulars to all banks.
“The accused PNB officials, including Ananthasubramanian and others, were aware of this fraud involving PNB Dubai and the Indian Overseas Bank Chandigarh and yet they did not take any corrective action and remained silent spectators. This facilitated continuance of the fraud resulting in wrongful loss to the PNB,” it said. Also Read - Dhanbad Judge Death Case: CBI's Report to Jharkhand HC Claims 'Judge Uttam Anand was Intentionally Hit'
“Inspite of her knowledge about the modus operandi in these frauds, she (Ananthasubramanian) did not take any meaningful corrective measures in her capacity as the executive head of the bank and had unauthorizedly delegated the RBI guidelines work to her subordinates without any follow-up action,” the charge sheet said. Also Read - NEET UG 2021: CBI Unearths Major Scam, Says Students Asked to Pay Rs 50 Lakh For Admission to Govt Medical Colleges