Kozhikode: The Kerala High Court has ordered a CBI probe into the scam that took place at the Kozhikode Link Road branch of the Punjab National Bank. The culprit in the case was M P Rijil, the former senior manager at the branch. The bank itself had filed a writ petition at the HC demanding a CBI probe into the scam.

A misappropriation of funds up to Rs 21.9 crores was identified across 17 accounts including that of the Kozhikode Corporation, in the scam. Rijil had swindled off Rs 12.81 crores in the heist. The case was first investigated by the town police and later on by the crime branch. 

Apparently, the state crime branch's financial investigation department has wrapped up the investigation. However, the chargesheet has not been submitted yet. Amidst this, the bank itself has approached the HC seeking a CBI probe.

Since the fraud amounts to more than Rs 3 crores, as per the RBI rule, the case shall be investigated by the CBI. And if the bank employees are involved in the scam, then the CBI anti-corruption branch should take up the investigation. If the employees are not involved, then the investigation is carried out by the financial wing of the CBI.

Justice Bechu Kurian has directed the police to hand over the investigation details to the CBI.        

M P Rijil was arrested on December 14 last year. He was granted bail in February. The culprit first transferred the swindled money into his father’s account and later on into his account. Rijil invested the money in share markets and used it for playing online games such as Rummy. 

The Kozhikode corporation had lost Rs 12.6 crores in the scam which was later on compensated by the PNB bank with interest.