The ED had early this week examined state-owned bank's Executive Director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
The deceased, Rohit Srivastava (28), who was the head cashier in Pehar branch of Punjab National Bank, belonged to Lucknow.
The attached properties include 15 flats and 17 office premises in Mumbai, M/s Hyderabad Gems SEZ in AP, a shopping mall in Kolkata, farm house in Alibaug and 231 acres land in Maharashtra and Tamil Nadu.
The official has been identified as MK Sharma-- a chief manager-ranked official. It is the first arrest of any auditor of the bank.
Officials said that Nirav Modi was asked to appear before the agency in connection with its probe in the over USD two billion alleged fraud perpetrated in the PNB.
The CBI on Tuesday said it has questioned former Punjab National Bank Managing Director Usha Ananthasubramanian and ICICI Bank Executive Director N.S. Kanan in connection with its over Rs 12,600 crore bank fraud case.
Firestar Diamond, Inc filed the Chapter 11 petition in the New York Southern Bankruptcy Court yesterday, according to the court filing.
Noting that Modi, during his recent visits to Karnataka had, among other things, spoken on the issue of corruption, Surjewala said after 46 months in power "if one person in India has to answer on corruption, it is Modi and his party the BJP."
Executive Directors and chief technology officers (CTOs) of PSBs have been asked to prepare a blueprint to enhance preparedness for combating increasing risks, Financial Services Secretary Rajiv Kumar said in a tweet.
In a filing to the BSE late last night, the bank said the amount of unauthorised transactions could go up by more than Rs 1,300 crore.
IBA said there is an urgency to fast-track SWIFT-CBS linkage. This came after the country's second largest state-run lender Punjab National Bank detected a Rs 11,400-crore fraudulent transactions at one of its branches in Mumbai.
According to the CBI, top PNB officials were called at the agency's Mumbai branch and were questioned for over 7 hours.
Reacting to the development, Nirav Modi's lawyer Vijay Agarwal said that government agencies are acting contrary to each other.
Without naming either the alleged kingpin of the fraud, Nirav Modi, or PNB, PM said the management of financial institutions, auditors and regulators should perform their duty with full dedication.
Finding Price Waterhouse guilty in the multi-crore Satyam scam, Securities and Exchange Board of India (Sebi) in January had barred its network entities from issuing audit certificates to any listed company in India for two years.
Nitin Gadkari's assertion comes in the backdrop of speculation that he may be sent back to Maharashtra as Chief Minister, replacing incumbent Devendra Fadnavis.
Sources also told India TV that Nirav’s maternal uncle and his business partner Mehul Choksi is in Dubai. He is staying in Emirates Hills -- a gated community located in Dubai.
Attorney General K K Venugopal, appearing for the Centre, said he was opposing the PIL on various grounds, including that an inquiry has started after the FIR was registered.
The CBI has registered two cases involving Modi and Choksi. These relate to fraudulent issuance of 150 Letters of Undertaking (LoU) (a kind of bank guarantee) worth Rs 6,498 crore and 143 LoUs worth Rs 4,886 crore.
News agency ANI reported that the official, who has been identified as Rajesh Jindal, was taken into custody by the country’s premier investigating agency last night.
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