The CBI has registered a fresh FIR against Gitanjali Group promoter Mehul Choksi, pertaining to Letters of Undertaking (LoUs) worth over Rs 4,886 crore fraudulently issued to three of his companies – Gitanjali Gems, Nakshatra and Gili India – during 2017-18.

The report has been registered on the basis of a February 13 complaint by Punjab National Bank’s Mumbai zonal office deputy general manager Avneesh Nepalia. The FIR names, among others, Gokulnath Shetty (retired DGM of the bank) and Manoj Kharat (then single window officer of the bank).

MD Choksi is named as accused with 10 other directors of the companies, including Krishnan Sangameshwaran, Nazura Yash Ajaney, Dinesh Gopaldas Bhatia, Aniyath Shivraman Nair and Dhanesh Vrajlal Sheth.

The FIR says that the accused bank officials issued fraudulent and unauthorised LoUs in favour of foreign branches of India-based banks, and omitted entries of the LoUs in the core banking system.

Criminal conspiracy, cheating, criminal misconduct of public servants and abuse of official position are the offences listed on the FIR.

Choksi, along with diamond merchant Nirav Modi, has been in the news for the last few days for allegedly defrauded Punjab National Bank of more than Rs 11,000 crore.

According to media reports, the CBI is conducting searches at 26 locations across six cities covering the premises of 18 Indian subsidiaries of the Gitanjali Group.