Ex-PNB Chief Approaches NCLAT In Nirav Modi’s Embezzlement Case 
Usha Ananthasubramanian, chief executive officer of Punjab National Bank, attends the FIBAC banking conference in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Ex-PNB Chief Approaches NCLAT In Nirav Modi’s Embezzlement Case 


Former Punjab National Bank Managing Director and Chief Executive Officer Usha Ananthasubramanian has approached the National Company Law Appellate Tribunal against the National Company Law Tribunal’s Mumbai-bench order, which made her a respondent in the Nirav Modi fraud case.

A two-member bench headed by Chairman Justice SJ Mukhopadhaya issued notice to the Ministry of the Corporate Affairs over her plea.

On Jan. 31, the Mumbai bench of the NCLT made her a party in the ongoing matter of PNB-Nirav Modi fraud case by accepting the centre's request to implead her.

The appellate tribunal had directed to list the matter on April 29 for next hearing.

In its application before the Mumbai NCLT, the MCA had said that the impleadment of the additional respondents, including Usha Ananthasubramanian, was essential because they all are necessary and proper parties.

Also read: Nirav Modi To Make Second Bail Application In U.K. Court On Friday

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