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legal | IST

ED files chargesheet against Mehul Choksi, 13 others

The Enforcement Directorate (ED) on Thursday filed chargesheet against Mehul Choksi and 13 others including five companies under Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate (ED) on Thursday filed chargesheet against Mehul Choksi and 13 others including five companies, named in the PNB fraud case.
Diamantaire Nirav Modi, his uncle Mehul Choksi and others are being probed by various agencies after the fraud came to light in February following a complaint from PNB, accusing that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore.
The bank had issued letter of undertakings (LoU) of Rs 3,011.39 crore and foreign letters of credit (FLC) of Rs 3,086.24 crore to three companies of Choksi — Gitanjali Gems Ltd, Gili India and Nakshatra brands.
Choksi used to allegedly divert these funds to related companies in USA, UK, UAE, Thailand, China, Japan, Italy and Belgium.
On Wednesday, Nirav Modi and Choksi approached the Central Bureau of Investigation's (CBI) special court in Mumbai for cancellation of non-bailable warrant against them.
Two non-bailable warrants were issued against Choksi in the month of April and May.
Choksi on Thursday said that he could not travel to India because of possible threat to his life.
In his application, Choksi also said that he always responded to the summons received from the CBI or any other investigating agency.