Published
Oct 17, 2018
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ED seizes over Rs 218 crore in assets from fugitive jeweller Mehul Choksi in PNB case

Published
Oct 17, 2018

The Enforcement Directorate (ED) seized over Rs 218 crore ($32.8 million) in assets from Mehul Choksi and attached them to the case against the jeweller of his alleged fraud at the Punjab National Bank (PNB).

The ED seized over Rs 218 crore of assets from Mehul Choksi who is currently refusing to return to India to stand trial - Gitanjali Gems- Facebook


On October 16, the ED seized the assets from Mehul Choksi who is currently refusing to return to India to stand trial as requested and is believed to be staying in Antigua where he has taken citizenship. On Wednesday, three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the ED’s zonal office in Mumbai. These orders requested the attachment of Choksi’s assets to the ongoing case, as reported by the Press Trust of India.

Assets of Choksi as well as his close aide Mihir Bhansali, Nirav Modi, and businesses named as A P Gems and Jewellery Park were seized. A Red Corner notice was also recently issued against Bhansali by Interpol as he is also outside of the country despite being requested to aide in the investigation.

Indian authorities are currently trying to negotiate Choksi’s extradition to India from Antigua and Modi’s extradition from the UK. Both are accused in a fraud totalling over Rs 13,500 crore at the PNB.

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