The Central Bureau Investigation (CBI) on Saturday told a special CBI court that bribe in the form of gold was allegedly paid to at least one employee of Punjab National Bank(PNB) by Nirav Modi who is accused in the scam of Rs 12,700 crore.

The CBI had produced six arrested accused in the court on Saturday who has been sent to Judicial custody for 14 days.

The investigating agency informed the court that accused Yashwant Joshi, a manager in the forex department of PNB's Mumbai branch, has allegedly confessed to having received two gold coins weighing 60 grams and a pair of gold and diamond earrings from Modi as a 'gift' which the agency has already recovered from his house.

The investigating officer of the case, D Damodaran said in a court fining "This indicates that he was in collusion with the beneficiary accused persons to cheat the bank. He also obtained illegal gratification from the C for continuing issuance of fraudulent LoUs."

The court also granted the plea of CBI seeking to arrest of Gokulnath Shetty, then deputy manager (now retired) of PNB in connection with the issuance fraudulent LoU to Choksi owned firms to the tune of Rs 6138 crores.

"It was informed by the PNB in writing that there are more than 150 LoUs amounting to Rs 6498 crores which are falling due with effect from January to April and all these were issued in 2017 by Shetty. The amount is likely to go higher also", CBI said in its remand application.

It said that Shetty admitted that the set of bills of earlier LOus of Modi firms were returned to the parties once payment of LoUs was settled.

Meanwhile, the special PMLA court also issued non-bailable warrants against Nirav Modi and his uncle Mehul Choksi after they did not appear before the Enforcement Directorate after three summonses.

After both of them failed to appear before the central agency, on February 27, the ED had moved to PMLA court for issuance of NBW.