The Central Bureau of Investigation (CBI) on Sunday, 4 March, arrested two employees and one auditor of Nirav Modi Group of Companies and one Director of Gitanjali Group of Companies in connection with the multi-crore fraud at the Punjab National Bank (PNB).
Manish K Bosamiya, former AGM (operation) and Miten Anil Pandya, then finance manager, both of Firestarter International Ltd were arrested for their alleged role in the preparation of applications for the fraudulent LoUs submitted to the PNB.
Sanjay Rambhia, Partner in the chartered accountant firm M/s. Sampat and Mehta, Mumbai, has also been arrested in the on-going investigation.
Aniyath Shiv Raman Nair, then Director of Gili India Ltd was arrested in the on-going investigation of the case. It was alleged that besides being one of the Directors of GitanjaliGroup of Companies. He was the authorised signatory for the applications made to the PNB for issuance of purported LoUs and FLCs.
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