PNB Fraud Case: SFIO summons ICICI Bank's CEO Chanda Kochhar, Axis Bank’s Shikha Sharma

In a major development in the PNB bank fraud case, the Serious Fraud Investigation Office (SFIO) on Tuesday summoned ICICI Bank CEO Chanda Kochhar and Axis Bank boss Shikha Sharma for granting loan facility to Mehul Choksi's Gitanjali group.

According to reports, the Central Bureau of Investigation (CBI) had summoned ICICI bank's CEO Chanda Kochhar for questioning in the Gitanjali jewel loan case. According to sources, Kochhar is in the CBI office right now. Kochhar was called in questioning on Monday and Sunday as well.

Violation of norms for issuance of Letters of Undertaking (LoUs) to benefit billionaire jeweller Nirav Modi and his uncle Mehul Choksi had been going on since 2010, the CBI told a court. The agency, which secured a 12-day remand of four accused arrested on Sunday, explained the modus operandi involved in the alleged Rs 12,636-crore Punjab National Bank (PNB) fraud before the special CBI court in Mumbai.

Here are the live updates

# Deputy Managing Director Axis Bank V Srinivasan was seen leaving from SFIO office in Mumbai

# Chitalia was apprehended from Mumbai airport

# Gitanjali group's vice-president Vipul Chitalia detained by CBI for questioning

#SFIO summons Chanda Kochhar, Shikha Sharma

#ICICI Bank has exposure to Gitanjali Group, not Nirav Modi firms

#SFIO has issued summons to several banks

#31 banks have been summoned over PNB scam

#Officials of State Bank of Jaipur, KarurVysya Bank, among others are expected to be summoned by the CBI