A Nirav Modi jewellery showroom at Defence Colony area of New Delhi. PTI New Delhi: State Bank of India (SBI), which has confirmed exposure to the Nirav Modi fraud has frozen accounts of three group companies of the fugitive jeweler.
The bank has also confirmed that it has shared the information related to those accounts with investigative agencies.
"We have proactively conducted internal scrutiny and came across deposit accounts of three Nirav Modi group companies in our overseas branches," the officials told PTI.
These accounts were with the three overseas SBI branches at Dubai, Bahrain and Antwerp, officials said.
The bank discovered these accounts after internal scrutiny, the officials said, adding these accounts are not directly related to the PNB fraud of nearly Rs 12,600 crore.
However, these could help in investigation so the bank shared the details with the CBI, the ED, the income tax department and other relevant agencies.
SBI, the country's largest lender that has an exposure of $ 212 million to beleaguered businessman Nirav Modi , expects Punjab National Bank (PNB) to clear the banks dues in the fraud case.
Billionaire jewelry designer Nirav Modi is at the center of the PNB fraud.
I am very much confident that things will get sorted out between PNB and other banks, Kumar said in an interview to CNBC TV18. As far as our exposure is concerned on PNB, that number is very much confirmed, calculated and advised to PNB, SBI Chairman Rajnish Kumar had said.
He had said the exposure of SBI to Gitanjali Gems, one of the companies involved in the PNB fraud, has also been crystallized and there was no issue on that.
