In an effort to find out how the PNB fraud unfolded Chanda Kochhar and Shikha Sharma the heads of ICICI and Axix banks respectively and Shikha Sharma, were summoned for questioning in the Nirav Modi-Mehul Choksi perpetrated Punjab National Bank (PNB) fraud.
The Serious Frauds Investigation Office (SFIO) — the investigating arm of the Corporate Affairs Ministry to probe frauds — summoned the country’s two top bankers as part of its ongoing probe in the nearly Rs 13,000 crore fraud in PNB. The summons were reportedly sent to seek clarifications only, as per news reports that had come.
According to various media reports, the top bankers were issued summons over how the Rs 3,280 crore working capital loan was issued to Mehul Choksi’s Gitanjali group.
Thirty-one banks had given loan to Choksi, ICICI had sanctioned a loan of Rs 405 crore. .