PNB Scam: Nirav Modi, Mehul Choksi and others booked for criminal breach of trust

Mumbai: A special court on Wednesday allowed the CBI to invoke the provision of criminal breach of trust against all the accused, including Nirav Modi and Mehul Choksi, in the multi-crore Punjab National Bank (PNB) fraud case. The special court also sent Bishnubrata Mishra (62), the internal chief auditor of the Brady House branch of the PNB to judicial custody till March 28.

The special court was moved by the CBI seeking inclusion of Section 409 (criminal breach of trust) of the Indian Penal Code (IPC) against Modi and other accused in the case. The agency also sought extension of the custody of Mishra, however, the court remanded him to judicial custody.

The central agency had moved an application seeking inclusion of a new provision in the FIR registered against Nirav Modi, Neeshal Modi, Ami Modi, Mehul Choksi, Gokulnath Shetty, Manoj Kharat and seven other unknown persons, who together duped the PNB to the tune of Rs 280.70 crore in 2017.

Meanwhile, the CBI while seeking extension of Mishra’s custody, contended that he had facilitated the issuance of more than 100 fraudulent Letters of Understandings (LoUs) without following the due procedure and the sanctioned limit.  Having perused the applications and also the submissions canvassed, the special court remanded Mishra to judicial custody till March 28 and also allowed the CBI to invoke section 409 against all the accused.

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