Ex-PNB official issued 143 LoUs in 63 days to Choksi's firms
Retired PNB Deputy Manager Gokulnath Shetty fraudulently cleared 143 Letters of Undertakings (LoUs) to Mehul Choksi's firms in just 63 days starting March 1 last year. This compares to 150 LoUs issued from the time the alleged fraud began in 2011 to February 2017. Jeweller Nirav Modi and his uncle Mehul Choksi are accused of defrauding PNB of $1.77 billion.