Former Punjab National Bank official, spouse issued summons in disproportionate property case

A particular courtroom on Thursday issued summons to retired deputy supervisor of Punjab National Bank (PNB), Gokulnath Shetty and his spouse, in a disproportionate property case, observing that there was prima facie proof to indicate that they had amassed a lot of properties, almost 600 per cent disproportionate to their identified sources of revenue, as claimed by the CBI.
Shetty was arrested in 2018 within the Rs 7,000-crore alleged fraud case involving absconding diamantaires Nirav Modi and his uncle Mehul Choksi.
The Anti-Corruption Bureau lately filed a chargesheet towards Shetty and his spouse, Ashalatha, in a separate case underneath the Prevention of Corruption Act. The CBI claims that each Shetty and his spouse have been public servants and whereas their whole property from identified sources of revenue have been valued at Rs 72.50 lakh, the property discovered of their possession have been to the tune of Rs 4.28 crore.
The CBI stated that the 2 amassed a lot of movable and immovable properties between 2011 and 2017 of their title in addition to within the title of their relations. The proportion of disproportionate property calculated by the CBI are at 590.83 per cent to their identified sources of revenue. The CBI in July final yr additionally obtained sanction to prosecute each the accused underneath the Act.

“…keeping in view the contention in the chargesheet and the evidence so produced along with it, a prima facie case appears to have been made out against accused to proceed further for the offences alleged against them,” the courtroom stated, issuing summons to the 2, directing them to be seem earlier than the courtroom subsequent month.

Shetty is dealing with separate circumstances by the CBI in addition to the Enforcement Directorate alleging cash laundering and has been in jail since 2018.