PNB fraud : CBI arrests former deputy general manager and two others

The Central Bureau of Investigation on Saturday arrested Punjab National Bank’s former Deputy General Manager Gokulnath Shetty, single window operator Manoj Kharat and authorised signatory of the Nirav Modi Group of Firms Hemant Bhat.

These are the first arrests in connection with the bank’s Rs 11,380-crore fraud. The three will be produced



before CBI special court in Mumbai later in the day. The CBI will seek 14-day custody for them.

In its remand application, the CBI estimated the fraud involving billionaire jeweller Nirav Modi at Rs 6,000 crore, much more than Rs 280 crore the bank had first reported . The agency also said that Bhat was not cooperating in the investigation.