Mumbai, Dec 19 (IANS): In another swoop in the ongoing probe into the Punjab National Bank (PNB) scam, the CBI on Thursday raided and arrested eight officials of the bank and directors of two private companies, an official said.

The latest case involving a fraud of around Rs 90 million, comes in the continuing probe in the Rs 13,600 crore scam that was unearthed at the PNB's Brady House Branch last February (2018).

The CBI had lodged a case against various former and current bank officials, and two directors of a Mumbai-based company, Messrs. Chandri Paper & Allied Products, charging them with defrauding the PNB by issuing two Letters of Undertakings (LoU) worth USD 14,21,311.82 or Rs.9,09,63,956.48.

As per a complaint lodged by the PNB, these LoUs were issued in favour of State Bank of India branch in Antwerp, Belgium, said the official.

The accused were produced before a Special Court in Mumbai and remanded in custody till December 21.

Those arrested include PNB's DGM, New Delhi who was former MCB at the Brady House Branch Sanjay Kumar Prasad, then Single Window Operators Amar Sukhdev Jadhav, Sagar Dattaram Sawant and Manoj Hanumant Kharat, the then Chief Manager of Foreign Exchange Department Bechu Bansi Tiwari, the then Manager in the same department Yashwant Trimbak Joshi, an officer Prafull Prakash Sawant, and the Chief Internal Auditor MOhinder Kumar Sharma.

The two directors of the private company are Ishwardas Agarwal and Aditya Rasiwasia, the official added.