CBI Files First Chargesheet In Nirav Modi Case, Names Former PNB Boss, Senior Officials Among Others

The Central Bureau of Investigation (CBI) has filed its first chargesheet in the Punjab National Bank (PNB) scam today (14 May) naming and detailing the roles of Nirav Modi, his brother Nishal Modi and several senior PNB officials in the matter, The Hindu has reported.

Former PNB chief, and now Allahabad Bank CEO and MD, Usha Ananthasubramanian has also been named in the CBI’s chargesheet for the Rs 13,400 crore scam. She served as PNB’s CEO and MD from 2015 and 2017.

The chargesheet was filed in a special court in Mumbai and has elaborated the roles played by the PNB officials as the banks issued fraudulent Letters of Understanding (LoUs) to firms operated by the Nirav Modi group.

PNB executive directors K.V. Brahmaji Rao and Sanjiv Sharan, and general manager of international operations, Nehal Ahad have also been named by the CBI.

Mehul Choksi, owner of the Gitanjali group and Nirav Modi’s nephew, too is an accused in the case, but his role hasn’t been mentioned by the CBI in the chargesheet. Both Nirav and Mehul however, had left the country before the PNB filed a complaint with the CBI.