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PNB scam: SC to hear petitions on Friday

By Vicky
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    The Supreme Court will hear on Friday a petition relating to the PNB scam. The court told the petitioner that the matter would be listed on Friday for hearing.

    PNB scam: SC to hear petitions on Friday

    A batch of petitions have been filed in the Supreme Court seeking a monitored probe into the Rs 11,400 crore scam in which Nirav Modi is the main accused. The petitions have been filed advocates, Vineet Dhanda and M L Sharma.

    The plea seeks the establishment of an SIT comprising retired judges of the Supreme Court.

    In his petition, advocate, M L Sharma has sought for the probe stating that there was a serious fraud committed by the PNB while issuing Letters of Undertaking without proper surety or bank guarantee.

    Read | PNB scam is no doubt the biggest, but so is the probe into it

    The multi crore scam is being probed by several agencies including the Central Bureau of Investigation, Enforcement Directorate, Income Tax Department among others.

    The petitioner states that the PNB had issued LoUs without entering into bank records. He said that a dedicated SIT probe be initiated to get to the root of the matter.

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