PNB Chief Manager moves High Court, alleges senior management shielded major loan frauds; seeks CBI probe into multi-crore irregularities
Photo used for indicative purpose only. Source: Internet
Shimla, Nov 23,
A senior woman officer of Punjab National Bank (PNB) has moved the Himachal Pradesh High Court alleging that instead of probing multi-crore loan frauds she flagged, the bank’s top management targeted and victimised her for resisting pressure and exposing irregularities. Chief Manager Mansi Negi, a 14-year PNB veteran, has sought a CBI investigation into multiple loan accounts, claiming that doctored valuations, missing documents, and irregular sanctioning practices put huge amounts of public money at risk.
A single-judge Bench of Justice Sandeep Sharma has issued notice to PNB, directing the bank to file a detailed reply within four weeks.
According to the petition, Negi—posted to Nahan in January 2023—was tasked with pre-sanction scrutiny of loan documents. She claims that during verification she discovered serious discrepancies in three loan accounts, including those of M/s Himalayan International and M/s Volvo Impex of Sirmaur. Borrowers allegedly failed to provide mandatory documentation, leading her to halt disbursement. All three accounts later turned NPA, which she argues vindicates her professional decision.
Instead of probing irregularities or fixing responsibility, the petition alleges that senior PNB officials exerted “immense pressure” to clear the loans and later orchestrated fabricated complaints to tarnish her record. A complaint purportedly filed by the borrowers—copies of which were never supplied to her—is now said to be “missing” from the bank’s records.
In August 2023, she was transferred from Nahan to Solan citing “customer dissatisfaction”. She calls the move punitive and retaliatory. At Solan, where she joined as SASTRA Head (Recovery), she alleges sustained harassment, including sexual harassment. Her complaint, filed with the Zonal Manager, was reportedly split into two parts—one put before a preliminary inquiry officer and the other sent to the Internal Committee under the POSH Act, contrary to procedure. Negi claims she was denied her statutory right of cross-examination before the committee, which eventually issued an adverse report.
Alarmed by the handling of the POSH complaint, Negi lodged a Zero FIR in Dehradun on 12 April 2024, later transferred to Solan. The Solan Police subsequently closed the case solely on the basis of the bank committee’s report, she alleges. Negi has filed objections before the Judicial Magistrate and has also challenged the closure report before the High Court.
The petition further states that when she began examining documents in the loan portfolios of M/s Himalayan International Pvt. Ltd., M/s Thakur Dairies and M/s Holiness Plastics, and questioned inflated collateral valuations, a “deliberate campaign” of complaints was initiated to silence her. A property shown to be worth Rs 11 crore was allegedly valued at “barely Rs 40 lakh” according to revenue records and the local Patwari, with the land said to be land-locked and commercially unsaleable. A Delhi flat offered as security was also embroiled in litigation, yet loans were sanctioned and later went NPA.
Negi claims that her request to inspect MCC Sirmour was abruptly cancelled. Although the Deputy Zonal Manager ordered the constitution of a Circle Office Fraud Examination Committee under FRMD norms in April 2025, no action followed.
Her request for sabbatical leave was rejected, and she was again transferred on 2 July 2025 to the LDM Office, Hamirpur, which she terms another retaliatory step.
Negi’s petition highlights her otherwise strong professional record: she was selected for the MD’s Shine Dine Club 2025, and ranked among the Top 20 Circle Performers in Recovery at the all-India level in 2024. She alleges that attempts are now being made to damage her service record to silence her objections.
Negi has sought a court-monitored CBI probe into all loan accounts she flagged, action against erring officials, and protection from further victimisation. The High Court will continue hearing the matter after PNB files its response.
About the Author
The HimachalScape Bureau comprises seasoned journalists from Himachal Pradesh with over 25 years of experience in leading media conglomerates such as The Times of India and United News of India. Known for their in-depth regional insights, the team brings credible, research-driven, and balanced reportage on Himachal’s socio-political and developmental landscape.
