State-owned Punjab National Bank (PNB) has witnessed losses to the tune of Rs 14,500 crore due to fraud so far in this fiscal, Parliament was informed this week.
"PNB has apprised that the total loss reported by it due to frauds was Rs 341.03 crore in the financial year (FY) 2015-16, Rs 2,633.82 crore in FY 2016-17, and Rs 14,506.39 crore (including contingent liability) in FY 2017-18 (till date)," Minister of State for Finance Shiv Pratap Shukla said in a written reply to the Rajya Sabha on March 2o.
With regard to scam related to diamond trade, he said, PNB has submitted reports on fraud related to diamond traders to the Reserve Bank of India (RBI) through its Fraud Monitoring Reporting System.
"The total amount involved is reported as Rs 13,923.14 crore, which includes a report dated February 22, 2018 on additional amount involved of Rs 1,251.96 crore," he said in the reply made available today.
PNB has stated that it has adequate assets or capital to meet any liability which may crystallise on the bank, he said.
On the capital infusion, he said, the government has decided to pump in Rs 5,473 crore in 2017-18.
Government infused capital amounting to Rs 1,732 crore in 2015-16 and Rs 2,112 crore in 2016-17, he said.
He further said the Directorate of Enforcement (ED) has apprised that it has conducted searches at various locations relating to Nirav Modi and Mehul Choksi group, which resulted in seizure of valuables, and that it has also attached immovable properties.
Further, mutual funds and bank accounts have been frozen. Letter of Request to 13 countries have been issued by the court seeking details of properties, bank accounts of companies, etc, he said.
"The Ministry of Corporate Affairs has filed a petition or application against the individuals, groups and their entities belonging to the Nirav Modi and Mehul Choksi Groups before National Company Law Tribunal, Mumbai Bench and the tribunal has passed an injunction against all the respondents and other companies, LLPs, trusts and individuals from removal, transfer or disposal of funds, assets and properties of the individuals until further orders," he said.
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