With the Rs 114-billion Punjab National Bank (PNB) scam involving Nirav Modi still being fresh news, the Central Bureau of Investigation (CBI) on Sunday registered a case against Simbhaoli Sugars Limited, its Chairman Gurmit Singh Mann, Deputy Managing Director Gurpal Singh and others on a complaint from the Oriental Bank of Commerce (OBC) in connection with an alleged bank loan fraud of Rs 978.5 million (Rs 97.85 crore).Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.The fresh case comes days after news broke of a Rs 3.9-billion fraud at the same bank. With the latest development, the bank could be looking at losses to the tune of Rs 5 billion.

With the Rs 114-billion Punjab National Bank (PNB) scam involving Nirav Modi still being fresh news, the Central Bureau of Investigation (CBI) on Sunday registered a case against Simbhaoli Sugars Limited, its Chairman Gurmit Singh Mann, Deputy Managing Director Gurpal Singh and others on a complaint from the Oriental Bank of Commerce (OBC) in connection with an alleged bank loan fraud of Rs 978.5 million (Rs 97.85 crore).Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.The fresh case comes days after news broke of a Rs 3.9-billion fraud at the same bank. With the latest development, the bank could be looking at losses to the tune of Rs 5 billion.