The Punjab National Bank scam has forced the Central Bureau of Investigation to finally act. After sitting on a complaint from Oriental Bank of Commerce for nearly six months, the CBI has filed a case against a Delhi-based jewellery outlet Dwarka Das Seth International Private limited for alleged fraud of nearly Rs 390 crore.
The case has been registered against Karol Bagh-based Dwarka Das Seth International, engaged in manufacturing/trading of diamond, gold and silver jewellery, and other ornaments. It was alleged that the company had availed credit facilities from the bank’s Greater Kailash-II branch since 2007 by getting Foreign letters of Credit. OBC had approached the CBI on August 16, 2017.