The PNB scam has pushed the Central Bureau of Investigation into top gear. Six months after a complaint was filed by the Oriental Bank of Commerce, the CBI has registered a case against a Delhi based jewellery outlet for an alleged fraud of Rs 390 crore.
The case has been registered against Dwaraka Das Seth International which is engaged in the business of diamond trade and other ornaments. It was alleged that the company had availed credit facilities from the bank's Greater Kailash-II branch since 2007 by getting Foreign Letters of Credit.
The company is being run by Reeta and Sabhya Seth. Upon inquiry, the CBI learnt that Sabhya Seth, the other directors and family members could not be traced at their residence for the past 10 months.
OBC had approached the CBI on August 16, 2017. The bank said that the company enjoyed credit facilities including foreign bill discounting. They began availing this facility in 2007, the complaint also stated.