Mumbai The scam size of Punjab National Bank is over the Rs 12700 crore that the bank has so far claimed. According to Reuters, which reported of observing a court filing report, the size could be Rs 13640 crore, or Rs 942.18 crores over what the bank has so far maintained with public sources.
The bank is at the center of a fraud by billionaire jeweler Nirav Modi and Mehul Choksi. The CBI and enforcement directorate teams have so far grilled 19 employees of India's second largest state-run lender. But the agencies have not been able to track the absconders.
Modi and Choksi were helped by rogue PNB staff. In a court filing on Tuesday, police said the Gitanjali group of companies controlled by jeweller Mehul Choksi allegedly defrauded PNB of Rs. 7080 crore ($1.09 billion). PNB had previously pegged its exposure to the Gitanjali companies at Rs. 6138 crore.
The new disclosure takes PNB's overall exposure in the still unravelling fraud case to well over the $2 billion mark.
So far, there have not been any comments from either the Gitanjali group or Mehul Choksi. The lawyer too has not shed light on the rise in exposure.