PNB fraud case: SFIO summons ICICI Bank Chief, Axis Bank MD

KalingaTV News Network

Mumbai: The Serious Fraud Investigation Office (SFIO) summoned ICICI Bank Chief Chanda Kocchar and Axis Bank Managing Director Shikha Sharma for interrogation in connection to the the multi-crore Punjab National Bank (PNB) fraud case here on Tuesday.

Both the bankers have been summoned in a case of over 5,000 crore rupee working capital facility given to Mehul Choksi’s Gitanjali Group by a consortium of 31 banks.

The ICICI Bank, with a loan of around 400 crores, was a lead banker in this consortium, while Axis Bank had a major exposure too.

Meanwhile, the CBI has detained Vipul Chitalia, the Vice President of Gitanjali Group of Companies as a part of the probe into the case.

The CBI had earlier questioned ICICI Bank Executive Director NS Kanan as part of the investigation in India’s biggest banking fraud.

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