ED attaches Rs 24.77 properties of Mehul Choksi in PNB case

By

Isabelle Crossley

Published
Jul 12, 2019

The Enforcement Directorate has attached Rs 24.77 crore ($3.72 million) of properties belonging to accused jewellery tycoon Mehul Choksi as part of the ongoing Punjab National Bank fraud case.

The ED has moved to attach a new round of properties belonging to Choksi, Indo-Asian News Service reported. The action was taken by the ED under the Prevention of Money Laundering Act, 2002. The new attachments made by the ED to the case include three commercial properties in Dubai, a car (Mercedes Benz E280), valuables, and fixed deposits in banks, controlled by Choksi. 

Choksi has stated through affidavits presented by his lawyer in court that he wishes to block the ED’s move to label him a fugitive economic offender under the PMLA. Doing this allows the ED to confiscate Choksi’s assets and so Choksi is trying to prevent this. 

Choksi is currently residing in Antigua where he moved and took citizenship before news of his alleged fraud at the PNB broke in the media. Refusing to return to India to stand trial for the fraud, Choksi has cited ill health as a reason why he cannot travel. The ED has highly contested these claims in court and hearings are ongoing. The Indian government is also in negotiations with the Antigua and Barbuda government about the possibility of extradition.