Ex-PNB CEO Aproaches NCLAT in Nirav Modi Fraud Case

NEW DELHI: Former MD and CEO of Punjab National Bank Usha Ananthasubramanian has challenged the January 31 order of the National Company Law Appellate Tribunal’s (NCLAT) Mumbai Bench that made her a respondent in the PNB-Nirav Modi fraud case.

The two-member NCLAT, headed by Justice S.J. Mukhopadhaya, issued a notice to the Ministry of the Corporate Affairs on her plea.

The Centre had requested the Mumbai Bench of the National Company Law Tribunal (NCLT) to prosecute Ananthasubramanian in the Rs 13,500-crore scam by diamantaire Nirav Modi and the Tribunal had accepted the request on January 31.

The NCLAT has posted the next hearing on April 29. Ananthasubramanian headed PNB between August 2015 and May 2017, before she was moved to the Allahabad Bank. She was also the executive director of PNB between July 2011 and November 2013.

Courtesy: IANS