Bank Executive Acquitted in High-Profile Fraud Case: Justice Served

A special court has acquitted former Punjab National Bank executive director K V Brahmaji Rao in connection with a significant fraud case at the bank. Despite the serious nature of the alleged economic offence, the judge ruled that Rao's involvement was not sufficiently supported by evidence and emphasized the importance of fair legal procedures.

The case revolves around absconding businessmen Nirav Modi and Mehul Choksi, the main suspects in the fraud. The CBI and Enforcement Directorate have been investigating the case, but the court found that the CBI's charge-sheet failed to demonstrate Rao's role in criminal conspiracy and cheating.

Special CBI judge A V Gujarathi noted that leaving such charges against Rao would lead to unwarranted harassment without a substantial basis. Rao's role, focused on policy implementation rather than branch-level operations, coupled with the absence of any personal gain, led to the court's decision to discharge him from the case.