New Delhi: Gokulnath Shetty, the now-retired deputy manager of the Punjab National Bank (PNB), is the second most important person (after Nirav Modi) in the state-run bank scam case involving Rs 11,400 crore.


Interestingly, Shetty was glued to one particular branch of PNB for eight long years. He was not transferred anywhere else, opposite to the rules which say that bank employees should be transferred on regular bases.

Now, investigative agencies are trying to find out which top official(s) was eager to keep him on the same bank's branch for such a long time and not transferred him. The Central Bureau of Investigation (CBI) has taken into custody Shetty and is trying to find all answers.

About Punjab National Bank Fraud Case:

The Punjab National Bank (PNB) scam relates to alleged fraudulent Letter of Undertaking (LoU) worth Rs 11,400 crore that took place at its branch in Brady House, Mumbai, making state-run bank potentially liable for the amount.

The crooked transactions are allegedly linked to diamond lover and jeweler Nirav Modi of Gitanjali Group, against whom a complaint has been filed with the CBI. The transactions were first noticed by a new employee in the bank, said reports.

 Billionaire jeweller Nirav Modi / AFP PHOTO / CHANDAN KHANNA

PNB said that two of its employees at the branch were involved in the scam.

Three Jewellers - Gitanjali Gems Ltd and its subsidiaries Gili and Nakshatra are also under the scanner of investigation agencies.

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