CBI sources say this loan was given to Mehul Choksi’s Gitanjali group in 2013-14, could be added to the PNB scam amount at a later stage.
New Delhi: The Central Bureau of Investigation (CBI) has initiated a probe in connection with a loan of Rs 4,918 crore given to Mehul Choksi’s Gitanjali group of companies by a consortium of 31 banks led by ICICI Bank.
According to sources, the details of this loan came to the fore last month, while raids were being conducted on the offices of Choksi and Nirav Modi in connection with the Punjab National Bank fraud. Following the revelation, N.S. Kannan, executive director of ICICI Bank, was also questioned in Mumbai. No separate FIR has been registered though.
“Documents regarding this loan were found during a raid at one of Mehul Choksi’s offices, following which the executive director of ICICI was called for questioning. This pertains to a loan of Rs 4,918 crore given to Gitanjali in 2013-14,” a CBI source said.
Of the total amount, Rs 405 crore was loaned by ICICI.
An investigator also said that the sum of Rs 4,918 crore may at a later stage be added to the Rs 13,578 crore PNB scam involving Choksi and Modi.
Meanwhile, in the ongoing investigation into the PNB scam regarding issuance of Letters of Understanding to Choksi and Modi’s companies, officials have been called in for questioning.
“Three officials are being questioned in that case — two are from Canara Bank, Bahrain, and another official of Bank of India, Antwerp, Belgium. The two are being examined. They are being questioned on why they did not carry out due diligence,” a CBI source said.
Break-up of the loan
ICICI Bank — Rs 405 crore
Punjab National Bank — Rs 587 crore
Corporation Bank — Rs 297 crore
Bank of Baroda — Rs 265 crore
Central Bank of India — Rs 206 crore
Syndicate Bank — Rs 231 crore
Canara Bank — Rs 195 crore
Indian Overseas Bank — Rs 176 crore
Bank of India — Rs 173 crore
State Bank of Hyderabad — Rs 140 crore
Dena Bank — Rs 121 crore
J&K Bank — Rs 121 crore
Oriental Bank of Commerce — Rs 121 crore
Union Bank of India — Rs 121 crore
Exim Bank — Rs 109 crore
IDBI Bank — Rs 99 crore
Karnataka Bank — Rs 87 crore
State Bank of Bikaner & Jaipur — Rs 87 crore
State Bank of India — Rs 52 crore
Vijaya Bank — Rs 63 crore
IndusInd Bank — Rs 58 crore
Karur Vysya Bank — Rs 30 crore
Lakshmi Vilas Bank — Rs 30 crore
Bank of Maharashtra — Rs 24 crore
Allahabad Bank — Rs 419 crore
Andhra Bank — Rs 240 crore
United Bank — Rs 207 crore
Standard Chartered Bank — Rs 100 crore
SBM Bank Mauritius Ltd — Rs 75 crore
Catholic Syrian Bank — Rs 50 crore
Punjab & Sind Bank — Rs 29 crore