According to industry sources, ICICI Bank was the lead bank in a consortium that advanced over Rs 5,000 crore as working capital loans to Gitanjali Gems.
While addressing the media APYC President Geli Ete said that inspite of knowing several fraud in several banks of the country amounting to 41,000 crore which is a public money is a warning for the central government led by Narendra Modi even after information by the Punjab National Bank official and let the fraud person left the country and enjoying his life overseas is a matter of great concern for common people.
Sources said the two top bank officials would be questioned with regard to giving loan facility to the Gitanjali Group. However, this did not stop the federal probe agency, the CBI, from questioning its Executive Director NS Kanan last week.
"We have no exposure to the Nirav Modi group of companies".
Sources said a number of banks have already submitted documents with the agency.
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Also, the three OGWs/ accomplices in the vehicle who were accompanying the terrorist were found dead. During the exchange of fire one militant was killed instantly and later three OGWs were found dead.
ICICI Bank Ltd has an exposure of Rs750 crore to the Gitanjali group of companies and Rs500 crore to Gitanjali Gems. These summons have been issued in connection to loans granted to Gitanjali Group.
BSE has also sought clarification from both Axis Bank and ICICI Bank on the news report.
The CBI on Tuesday arrested Gitanjali Group Banking Operations Vice President Vipul Chetalia.
"To provide assistance to the investigating authorities, representatives of ICICI Bank continue to engage actively and provide requisite inputs as routinely done in the case of all investigating authorities who approach the Bank", ICICI Bank said in a statement to the exchanges. Axis Bank revealed that it has a Rs 200-crore exposure to the scam-tainted companies promoted by Nirav Modi and his uncle Mehul Choksi.
Chitalia was brought to the Central Bureau of Investigation office at the Bandra-Kurla Complex for interrogation. Since they had no pre-arranged credit limit, the branch official asked the companies to put down the full amount as collateral so the bank could issue LoUs to authorise the credit.