FULL PC: PNB Scam: Nirav Modi & Mehul Choksi never gave concrete repayment plan, says Sunil Mehta

FULL PC: PNB Scam: Nirav Modi & Mehul Choksi never gave concrete repayment plan, says Sunil Mehta

New Delhi: Punjab National Bank (PNB) MD Sunil Mehta on Thursday said his bank is pursuing a clean banking system and when it learned about the fraud it immediately alerted the investigative agencies.

Addressing a press conference on the Nirav Modi case, Mehta said, “when we learned about the fraud, we went to law enforcement agencies to book the culprits and take legal action. We informed all our lenders about it being in line with the clean banking system.”

He said they are taking efforts to protect the financial interest of the bank. “We request the media to give us some breathing time to book the culprits.”

“We are in touch with all our stake holders.  SEBi has been informed. We are practicing clean banking. We will honour all our bona fide commitments,” he asserted.

Mehta said apart from customers Nirav Modi and Mehul Choksi, the bank’s two staff members have been complained about to the investigative agencies.

Mehta said Rs 11,360 crore first started in 2011 but action was taken when the bank detected it in last week of January this year.

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