Ananathasubramanian, who was the MD and CEO of the Punjab National Bank before moving to the Allahabad Bank, was named in the CBI charge sheet in connection with the Rs 14,000 crore fraud through fake LoUs in connivance with some PNB employees. It was alleged that she failed to exercise proper control over the functioning of the PNB while serving as the bank's Managing Director. It enabled the fraud in the bank through misuse of SWIFT (Society for Worldwide Interbank Financial Telecommunications), an international payment gateway for large transactions, at PNB's Brady House branch. Ananthasubramanian had enjoyed leadership roles in the PNB in two stints. She headed the bank between August 2015 and May 2017, before moving to the Allahabad Bank. She was executive director at the bank from July 2011 to November 2013. Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent letters of undertaking (LoUs).