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PNB scam accused challenges PMLA Court's jurisdiction

Mumbai (Maharashtra) [India], June 27 : Advocate Vijay Aggarwal, on behalf of Hemant Verma, accused in the Punjab National Bank fraud, on Wednesday challenged the jurisdiction of the Prevention of Money Laundering Act (PMLA) court in Mumbai and demanded a transfer of the case to CBI Special Judge.

The advocate said that the PMLA court has no power to continue with the case.
The Court posted the matter for hearing on July 10.

Advocate Vijay Agarwal is the lawyer for Hemant Bhat - an authorised signatory of Nirav Modi Group of Firms.

Earlier, the special Central Bureau of Investigation (CBI) court had sent Hemant Bhat, along with Gokulnath Shetty, the then Deputy Manager, Manoj Kharat, SWO (single window operator) of the PNB to police custody.

The Punjab National Bank detected a 1.77 billion dollars scam, in which jeweller Nirav Modi acquired fraudulent letters of undertaking from one of its branches for overseas credit from other Indian lenders.

The scam was started in 2011 and was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies.

Meanwhile, the PNB filed a second complaint with the CBI on February 13.

The CBI had received the complaint from PNB on January 28 and a case was registered in the case on January 31.

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