CBI arrests PNB ex-official Gokulnath Shetty, key accused in bank fraud case

Mumbai: Gokulnath Shetty, former deputy manager of Mumbai's Kala Ghoda branch of Punjab National Bank (PNB) and one of the key accused in the FIR filed by the Central Bureau of Investigation (CBI) in the Rs 11,400 crore fraud case, has been arrested on Saturday.

Besides Shetty (who is now retired), PNB’s single window operator (SWO) Manoj Kharat and authorised signatory of the billionaire diamantaire Nirav Modi Group of Firms Hemant Bhat have been apprehended.

The apprehended will be produced before CBI special court in Mumbai later on Saturday.

The central investigating agency had registered fresh FIRs against prime accused Nirav Modi and Mehul Choksi on Friday. The Enforcement Directorate (ED) has seized gold and diamond worth Rs 5,100 crore during searches.

Also Read: ED raids Nirav Modi premises, seizes Rs 5,700 Cr from 35 locations, 11 states

Nirav Modi and Mehul Choksi’s passports were also cancelled for four weeks by the Ministry of External Affairs (MEA) on Friday.

Also Read: PNB fraud case: Nirav Modi’s passport suspended for 4 wks, Interpol issues notice​

“On the advice of the Enforcement Directorate (ED), the passport issuing authority in the Ministry of External Affairs has suspended the validity of passports of Mr. Nirav Deepak Modi and Mr. Mehul Chinubhai Choksi with immediate effect for a period of four weeks u/s 10(A) of the Passports Act 1967,” said a press release by MEA.