Punjab National Bank “in view of fraudulent activities” has asked Gitanjali Group companies to pay “outstanding” dues amounting to Rs 1,045.88 crore, the jewellery firm said in a regulatory filing. Gitanjali Gems also released resignation letter of Independent Director S Krishnan.
The firm, a key entity involved in Rs 11,400-crore scam at PNB, said this in reply to clarifications sought by the stock exchanges.
The company has annexed four letters written by PNB to Gitanjali Gems, Gili India, Asmi Jewellery India and Nakshatra Brands on February 8.
Through the letters, PNB has informed these companies that “in view of fraudulent activities by the group companies Gitanjali Gems, Nakshatra Brands and Gili India, it has been decided by the bank to recall facilities being enjoyed by the company with our bank with immediate effect”.
The scam-hit state-owned bank had asked the four group companies to pay the “outstanding dues” amounting to Rs 1045.88 crore “within days”.
PNB has demanded Rs 645.12 crore from Gitanjali Gems, Rs 187.52 from Gili India, Rs 110 from Nakshatra Brands, and Rs 103.24 crore from Asmi Jewellery.
Investigating agencies, including Enforcement Directorate, Central Bureau of Investigation and Income Tax Department, has launched probe into the alleged fraud.
Gitanjali Gems promoter Mehul Choksi along with main accused diamantaire Nirav Modi have reportedly fled the country. The government has suspended their passports.