1 week ago

Bank Clerk Faces Trial After Assets Found 577% Disproportionate

A court is allowing a case against bank clerk Ashalata Shetty to continue.

The case says she and her husband had much more property and money than their income could explain.

The court said the difference was 577 percent.

Ashalata had asked not to face trial, but the court rejected her request.

Her husband, Gokulnath Shetty, used to be a deputy manager at Punjab National Bank.

He is also named in a separate fraud case.

In that case, he is accused of signing applications for fraudulent letters of undertaking.

Those letters allegedly benefited Nirav Modi and others.

Key facts

Court decision: A special court rejected Ashalata Shetty’s discharge plea.
Alleged asset disparity: The couple’s assets were described as 577% disproportionate to their income.
Ashalata Shetty: A bank clerk named in the disproportionate-assets case.
Gokulnath Shetty: A retired deputy manager of Punjab National Bank and Ashalata Shetty’s husband.
Investigating agency: The Central Bureau of Investigation filed the disproportionate-assets case.
Additional case: Gokulnath Shetty is also named in the main Punjab National Bank fraud case.
Allegation in fraud case: He is alleged to have signed applications for fraudulent letters of undertaking benefiting Nirav Modi and others.

indianexpress.com · 1 week ago