Finance 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. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.