Nirav, Choksi blackmailed me for issuing LoUs: Ex-PNB DM
Former PNB Deputy Manager Gokulnath Shetty has reportedly said that Nirav Modi and Mehul Choksi blackmailed him for issuing Letters of Undertaking (LoUs). He confessed to issuing the first LoU to Nirav without any securities and collaterals in 2010. Shetty alleged that they threatened to expose his first misconduct to PNB management, which forced him to keep issuing fraudulent LoUs.