JOIN USThe Central Vigilance Commission (CVC) on Monday asked the officials of Punjab National Bank (PNB) and the Ministry of Finance to submit a detailed report within ten days on how the Rs 11,344.40 crore scam took place despite regulations being in place.
Central Vigilance Commissioner K V Chowdary's direction came during a two-hour meeting he had with officials of PNB and Ministry of Finance. Vigilance Commissioner T M Bhasin was also present at the meeting.
Sources said the CVC asked the PNB and ministry officials to submit a detailed report on how the scam took place despite monetary regulations being in place.
The officials gave a presentation about the case as well as the action taken by them to deal with the fraud.
They also shared details of the action taken against the officials found involved in it. The CVC sought further details of the officials involved in the case and directed the bank to identify all those involved in the case.
Chowdary also separately met CBI officials probing the scam involving billionaire diamond merchant Nirav Modi, his wife Ami, brother Nishal and uncle Mehul Choksi. The CVC exercises superintendency over the CBI in corruption-related matters.
Sources said the CBI officials told the CVC that there was system failure at multiple levels at the PNB. They briefed the CVC about the progress they made in the case after PNB first approached them with a complaint on January 29.
The CBI had filed its first FIR on January 31 while a second FIR was registered on February 15 after the PNB approached it with fresh details. So far, three persons have been arrested in the case.