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CBI chargesheet blames PNB officials in Gitanjali Group scam (Lead)

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Mumbai, May 16 (IANS) Putting the blame squarely on the top officials of the Punjab National Bank (PNB), the Central Bureau of Investigation (CBI) filed a second chargesheet in the Rs 7,080.86 crore fraud case against absconding diamantaire Mehul Choksi, his Gitanjali Group of companies and senior past and present officials of the PNB, here on Wednesday, officials said.

The chargesheet was filed in the Special CBI Court in Mumbai, naming a total of 18 accused, exactly 90 days after the CBI first registered the complaint on February 15 this year, shortly after the scam was admitted by the PNB.

The CBI said it found during investigations that the fraud was perpetrated despite the knowledge of senior PNB officials who failed to implement the circulars and caution notices issued by the Reserve Bank of India regarding safeguarding the SWIFT operations, and instead, misrepresenting the factual position to the RBI.

The second chargesheet comes two days after the CBI lodged its first chargesheet against fugitive diamond merchant Nirav Modi, besides former and serving PNB officials in the Rs 13,000 crore-plus fraud case.

The PNB, however in its BSE filing said, they were yet to receive the copy of the chargesheet.

The agency registered the first FIR on January 31 against Nirav Modi, his wife Ami, brother Nishal and uncle Choksi along with others following the January 29 complaint by Deputy General Manager of PNB’s Zonal office in Mumbai.

The CBI registered two more FIRs subsequently. Most of the accused are common to both the FIRs.

While the chargesheet filed on Monday was based on the first FIR, the second chargesheet filed on Wednesday is based on the second FIR.

According to the CBI’s second chargesheet, between 2015-2017, the accused persons hatched a criminal conspiracy and defrauded the PNB to the tune of Rs 7,080.86 crore by fraudulently issuing Letters of Undertaking to overseas banks.

These LoUs were issued to obtain Buyer’s Credit and also issuing Foreign Letters of Credit in favour of the three companies belonging to Choksi, without any sanctioned limit or cash margin and without making entries in the PNB’s CBS system.

The CBI said that PNB ex-Deputy General Manager Gokulnath Shetty at the flagship Brady House Branch, had allegedly taken bribes from the diamond company for issuing the fraudulent LoUs.

Besides Shetty, the chargesheet named the PNB’s then Managing Director and CEO Usha Ananthasubramanian, two Executive Directors K.V. Brahmaji Rao and Sanjiv Sharan, International Banking Division General Manager Nehal Ahad, officials Manoj H. Karat, Bechu B. Tiwari, Yashwant T. Joshi, Prafful P. Sawant, and Mohinderkumar B. Sharma.

It has also named Gitanjali Gems Ltd., Gili India Ltd., Nakshatra Brand Ltd., Mehul C. Choksi as Managing Director of Gitanjali Gems Ltd., the company’s employees Aniyath S. Nair, Nitin Sahi, Kapil Khandelwal and Vipul C. Chitalia.

In this matter, the CBI had raided 52 premises, arrested several of the accused, seized voluminous documents and examined a large number of witnesses.

So far, 15 people have been arrested, though the prime accused including Modi and Choksi are still absconding, in what is billed as the biggest ever scam on a public sector bank in recent times.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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