Punjab National Bank scam: Central Vigilance Commissioner to meet bank's CEO, CVO seeking explanations

Faizan Javed
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PNB board approves ESOP scheme of up to 10 cr shares

The nomination and remuneration committee will decide all the matters and formulation of the ESPS scheme.

Central Vigilance Commissioner KV Chowdhary will meet scam-hit Punjab National Bank’s (PNB) Chief Executive Officer Sunil Mehta and the Chief Vigilance Officer on Monday to seek an explanation on the ₹11,360 crore fraud involving jewellery designer Nirav Modi, his relative and business partner Mehul Choksi and others.

The meeting in Delhi will also be attended by senior Finance Ministry officials and representatives of the Reserve Bank of India (RBI), sources said.

At least 200 shell firms and "benami" assets have come under the scanner of the investigative agencies that are probing the fraud.

The Enforcement Directorate (ED), which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday, is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act (PMLA).

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