PNB fraud going on since 2010, CBI tells court: Top 10 developments

CBI arrested four officials of Nirav Modi, Mehul Choksi's companies. on Monday Vipul Ambani and five others were sent to 14-day judicial custody

Last month, Punjab National Bank (PNB)detected a Rs 126 billion scam, in which diamond trader Nirav Modi acquired fraudulent letters of undertaking from one of its Mumbai branches for overseas credit from other Indian lenders. The scam 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. On Sunday, CBI arrested four officials of Nirav Modi, Mehul Choksi's companies. Today, Vipul Ambani and five others were sent to 14-day judicial custody.

Here are top 10 developments

1. Violation of norms for issuance of Letters