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Rs 441 million fraud rocks state-run Punjab & Sind Bank; names Mehul Choksi as wilful defaulter

Updated : October 12, 2019 01:11 PM IST

This is the first time the 111-year-old bank has come clean on the default perpetrated by Choksi.
The latest development makes PSB the third prominent government-owned bank to reveal its exposure.
According to PSB, Choksi's company, Gitanjali Gems Ltd, including its merged entity Gitanjali Exports Ltd, had availed the loan from the bank.
Rs 441 million fraud rocks state-run Punjab & Sind Bank; names Mehul Choksi as wilful defaulter

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