PNB Brandy House Branch General Manager Rajesh Jindal Arrested By CBI

| February 21 , 2018 , 11:52 IST

The Central Bureau of Investigation on Tuesday night arrested Rajesh Jindal, who was the head of Brandy House Branch of the Punjab National Bank between August 2009 and May 2011. He was posted as the General Manager, credit at the PNB head office in New Delhi.

He was arrested from his Mumbai residence. As per CBI, the multi crores PNB fraud took place during his tenure. This is the fourteenth arrest in the PNB Fraud case so far.

CBI had earlier arrested former deputy Manager of the PNB Branch Gokulnath Shetty along with other accused Manoj Kharat and Hemant Bhat. While Kharat is a PNB employee, Bhat was Nirav Modi’s authorized signatory.

CBI had registered FIRs against jewelers Nirav Modi and Mehul Choksi earlier last week. Their premises across the country have been raided by the Enforcement Directorate and other agencies.

Also Read: PNB Going Public On Money Owed Has Jeopardised Its Recovery: Nirav Modi

Billionaire Nirav Modi, at the center of the PNB Fraud, reportedly wrote to the bank stating that the money his companies owe to the bank is under Rs 5000 crores, which was erroneously cited by the bank as Rs 11,400 crores.

Modi also wrote in his letter that the search and seizure of his operations have jeopardized his ability to repay the banks, which he says he would otherwise have done.