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PNB branch at centre of Nirav Modi scam detects new fraud

15 March, 2018

India’s Punjab National Bank (PNB) has detected another small fraud at a Mumbai branch which is at the centre of $2 billion fraud, according to a complaint with the federal police.

The new alleged fraud of around 91 million rupees involves officials of a little known company called Chandri Paper and Allied Products Pvt Ltd, the Central Bureau of Investigation said in the complaint posted on its website.

A PNB spokesman had no immediate comment. Chandri Paper could not immediately be reached for comment.

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PNB branch at centre of Nirav Modi scam detects new fraud

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