Archive · 29 Jul 2026
CBI Charges Former PNB Auditor, Gitanjali Gems Executives
The CBI, India's top crime-fighting agency, said that a former auditor at Punjab National Bank and three people who worked for a jewelry company called Gitanjali Gems helped create fake documents.
These documents let the companies borrow money from overseas banks even though they didn't have permission.
The court looked at the evidence and said it was enough to start a trial.
The court also sent notices to the people involved.
The case is part of a bigger investigation into a man named Mehul Choksi who is linked to the bank fraud.
CBI filed a chargesheet against former PNB auditor Bishnubrata Mishra and three Gitanjali Gems executives.
Accused allegedly forged 118 fraudulent Letters of Undertaking for companies without sanctioned credit limits.
Court accepted a prima facie case and issued process, serving notices to the accused.
Fraud involved issuing 116 fraudulent LOUs in 2016 for multiple companies, bypassing cash margin and core banking system.
Gitanjali Exports Corporation merged with Gitanjali Gems following the alleged fraud.
- Who
- CBI, former PNB auditor Bishnubrata Mishra, Gitanjali Gems executives Jayesh Shah, Ajit Bheda, Deepen Shah
- What
- Chargesheet filed for alleged fraudulent Letters of Undertaking and misuse of bank funds
- When
- July 29, 2026
- Where
- Special CBI Court, Mumbai, India
- Why
- Accused allegedly forged LOUs for companies without sanctioned credit limits and bypassed bank safeguards
- Accused
- Bishnubrata Mishra, Jayesh Shah, Ajit Bheda, Deepen Shah
- Case
- Mehul Choksi-linked PNB fraud
- Court
- Special CBI Court, Mumbai
- Fraudulent LOUs
- 118 issued, 116 in 2016
- Date
- July 29, 2026