CBI FILES CHARGE SHEET AGAINST NIRAV MODI

Central Bureau of Investigation files its first charge sheet in country's largest financial scam worth around 11,000crores in Punjab National Bank against the billionaire jeweller Nirav Modi.

PNB, the country's second-largest state-run bank, disclosed in February that two jewellery groups had defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff over several years.

The charge sheet, filed in a special court in Mumbai, names several other top officials of the bank including former PNB chief Usha Ananthasubramanian. Ananthasubramanian was the MD and CEO of PNB from 2015 to 2017 and was questioned recently by the CBI in connection with the case.