New Delhi: The Central Bureau of Investigation (CBI) has arrested a General Manager (GM) rank officer of Punjab National Bank (PNB), Rajesh Jindal, who was the Branch Head at PNB Brady House branch in Mumbai during August 2009 to May 2011.
The arrest was made on late Tuesday night.
During Jindal’s tenure at PNB Brady House branch, the practice of issuance of Letter of Undertakings (LOU) without sanctioned limits to Nirav Modi group firms had started.
Jindal is presently posted as the General Manager Credit in New Delhi’s PNB Head Office.
Earlier on Tuesday, in connection with the Punjab National Bank (PNB) – Nirav Modi fraud case, the CBI arrested the president of Firestar International Pvt Ltd, Vipul Ambani.
The law enforcement body also arrested Kavita Mankikar, executive assistant and authorized signatory of the three accused firms.
Arjun Patil, senior executive, Firestar group; Kapil Khandelwal, CFO, Nakshatra group, and Niten Shahi, manager, Gitanjali were also detained.