The Central Bureau of Investigation (CBI) today arrested an internal chief auditor of a Punjab National Bank (PNB) branch in connection with Rs 11,400 crore fraud.
The official has been identified as MK Sharma-- a chief manager-ranked official. It is the first arrest of any auditor of the bank.
Sharma, a scale-IV officer, was responsible for auditing the systems and practices of the bank's Brady House branch--from Letters of Undertakings (LoUs) were issued-- and report the deficiencies with zonal audit office.
According to reports, so far seven bank employees have been held in the case.
Earlier today, billionaire jeweller Nirav Modi had refused to join the CBI investigation citing his business engagements, prompting the agency to issue a stern letter today asking him to appear before it next week.
The agency has told him that it is mandatory for an accused to join the investigation whenever they are asked to.