Shares of the State Bank of India fell 2.77 per cent to settle at Rs 256.50 on BSE, while that of ICICI Bank tumbled 2.64 per cent to end the day at Rs 295.10. The summons sent to Kochhar and Sharma reportedly ask the CEOs to appear before the fraud agency or send a representative.
ICICI Bank had earlier claimed it did not have any exposure to Nirav Modi group of companies but the bank was only lending working capital to the group along with several other banks.
This comes in the midst of reports that the Central Bureau of Investigation (CBI) on Monday kept Vipul Chitalia, VP (saving money tasks), Gitanjali Group, at Mumbai airplane terminal in the Punjab National Bank misrepresentation case.
It is alleged that firms colluded with officials at a city branch of state-run PNB to clear letters of undertakings (LoUs) without proper diligence, resulting in the scam. He didn't unveil some other insights about Chitalia's affirmed part in the PNB misrepresentation.
At least 73 companies associated with Choksi have come under the scanner of the CBI, Enforcement Directorate (ED) and the SFIO in the wake of the alleged Rs 12,700 crore fraudulent transactions at Punjab National Bank involving three of Choksi's companies.