The agency arrested the retired second senior-level internal auditor of the bank for allegedly overlooking the irregularities during the audit.
Mumbai: While probing aspect of the quid-pro-quo, the Central Bureau of Investigation (CBI) arrested another former employee of the Punjab National Bank (PNB) in connection with the Nirav Modi-PNB fraud.
The agency arrested the retired second senior-level internal auditor of the bank for allegedly overlooking the irregularities during the audit. The accused conducted audits between 2011 and 2015 for the Brady House branch of PNB but failed to raise the alarm over the alleged irregularities taking place there.
Modi secured 143 fraudulent Letter of Undertakings (LOUs) from PNB asking the Hong Kong branches of Allahabad Bank and Axis Bank to release Rs 11,400 crores.
The retired chief manager and the internal chief auditor was identified as Bishnubrata Mishra. The investigation in the probe revealed that Mishra was responsible for concurrent audit between 2011 and 2015 at PNB’s Brady House branch.
“Mishra was responsible for auditing the procedures and practices followed in the PNB branch and report them. However, he never brought the facts to the notice of the senior officials in those five years.” said a CBI officer. In addition to these accused, the agency questioned 13 other people on Thursday, officials said.
Mishra was produced in the CBI’s magistrate court on Friday that remanded him to the probe agency’s custody till March 14, for further interrogation. However, he also did not blow the lid from the malpractices.
Meanwhile, the Enforcement Directorate (ED) has attached 41 properties worth Rs 1217.20 crore belonging to Modi's uncle Mehul Choksi who is another accused in the multi-crore fraud.
The attachments include flats, office premises, shopping outlets, land parcels and farmhouses owned by Choksi.“ED attaches 41 properties worth Rs 1,217.20 crore (market value) of Mehul Choksi and companies controlled by him.”, stated a tweet oof ED.