Kozhikode PNB fraud: Why ED, CBI interventions are getting delayed?

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PNB, accused Rigil | Photo: Screengrab, Mathrubhumi News

Kochi: The Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) have not yet intervened in the alleged Rs 12.6 crore fraud at Punjab National Bank branch in Kozhikode. The delay has been attributed to loop of formalities to be completed for the intervention.

If CBI has to intervene, then it has to get state government’s nod. CBI has not yet sought the state government’s approval.

Apart from that, CBI need to seek union government’s nod as accused is a PNB employee. Because PNB comes under public sector bank and the rulebook stipulates prior accent from concerned department and ministry for case against public official.

Similarly, ED first has to register an Enforcement Case Information Report (ECIR) over the matter to pursue it as a case. This also has not yet happened. Reports said, both agencies are closely watching Crime Branch’s progress in the case.

However, CBI probe can be initiated on the basis of court order.

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