By Admin 
Punjab national bank: The Central Bureau of Investigation (CBI) has arrested two people, including a senior manager of Punjab National Bank (PNB) in a financial fraud case related to fake bank guarantee of Rs 183.21 crore. This action has been taken in connection with the scam related to a company in Indore and Madhya Pradesh Jal Nigam Limited (MPJNL).
What is the matter?
According to the CBI, an Indore company allegedly submitted an eight fake bank guarantee issued by PNB in 2023 and obtained three major irrigation contracts from MPJNL. Its price is a total of Rs 974 lakh.
To secure the project, the company submitted eight fake bank guarantee of a total of Rs 183.21 crore. During the time of verification process, MPJNL received an email related to the guarantee of PNB’s official domain, on the basis of which MPJNL approved the contracts. However, later they were found to be fake.
CBI raids in many states
After this case of fraud came to light, the CBI started action on the instructions of the Madhya Pradesh High Court. Under this, on June 19 and 20, the investigating agency conducted a search operation at 23 places in five states including New Delhi, West Bengal, Gujarat, Jharkhand and Madhya Pradesh.
During this raid, two people were arrested from Kolkata, including senior manager of Punjab National Bank. Both were first produced in a local court in Kolkata and are now being brought to Indore on transit remand.
Initial investigation has revealed that a gang of Kolkata has a hand in this entire case, which is engaged in making fake bank guarantee and distributing it in many other states as well. The investigation of the case is still going on.
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