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Investigation reveals illegal sale plans for Mehul Choksi land parcels

today Feb 11, 2019
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Mehul Choksi had bought land intending to set up a special economic zone (SEZ) And then illegally sell the land for a profit, according to new evidence in the Panvel Tehsildar investigation into the 32 land plots Choksi purchased with his associates.

An investigation revealed that Mehul Choksi intended to buy land as a SEZ but later sell it for profit

The Panvel Tehsildar submitted its investigation report to the Raigad collectorate concerning land purchased by the fugitive jewellery Choksi and his business associates, as reported by TNN. The report stated that Choksi had not only purchased the land himself, instead of through his business as per regulations, but had intended to sell the land for a profit at a later date.

“We believe he would have tried to profit from the sale of the land,” an official told TNN. “But as the SEZ failed to take off, his intention did not come to fruition.” The SEZ would be set up for Choksi’s business Gitanjali Gems Ltd (GGL) but this never happened. Twenty seven land plots around Panvel each measuring 27 acres are registered in Choksi’s name.

Choksi, who is also accused of being a major part of the Punjab National Bank (PNB) fraud along with his nephew Nirav Modi, is currently residing in Antigua. Choksi has been officially declared a fugitive through Interpol’s issuing of a Red Corner Notice but refuses to return to India to stand trial. Indian negotiations with Antigua and Barbuda were looking promising but Choksi further complicated matters by giving up his Indian citizenship after already having taken Antiguan citizenship through the investment route. 

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