28 Jun 2022
DiamondWorld Directory
-
Home |
News
Home
PNB Fraud: ED Attaches Over Rs. 218-crore Assets of Mehul Choksi, Others
The beneficiaries of these assets put under attachment, it said, are absconding diamond jeweller Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named A P Gems and Jewellery Park linked to Choksi.
By: Diamond World News Service
|
Oct 18 2018 11:29AM
|
Reference: 16731  

DecreaseIncrease

The Enforcement Directorate (ED), on 17th October,  seized assets worth over Rs. 218 crore, including diamonds and flats abroad, in the nearly Rs. 13,000 crore loan fraud case probe, the agency said.

It said three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the central investigative agency's zonal office in Mumbai for attachment of the properties.

The beneficiaries of these assets put under attachment, it said, are absconding diamond jeweller Mehul Choksi, Mihir Bhansali, a close aide and US-based executive of main accused in the case Nirav Modi, and a company named A P Gems and Jewellery Park linked to Choksi.

The total value of the attached and seized assets is Rs. 218.46 crore, the ED said.

The attached properties include a Rs. 51 crore flat of Bhansali in a foreign country and the agency said it was purchased by him and his wife jointly.

It was not immediately clear as to which country this asset is based in.

"Bhansali is a close confidante of Nirav Modi and beneficiary of the scam. He was actively involved in the diversion of funds received from PNB's LoU's (letters of undertaking)," the ED said in a statement.

Similarly, a villa valued at Rs. 27 crore of Choksi in an undisclosed country has also been attached.

A 2,10,000 sq feet building on a 2.5 acre land in Hyderabad's posh Banjara hills has been attached and the agency said it is in the name of A P Gems and Jewellery Park.

The ED said Coksi holds 89 per cent of shares in this firm by way of a "convoluted structure and overseas entity".

It added that a flat worth Rs. 1.70 crore in Trump Towers in Mumbai in the name of Choksi's daughter has been also attached.

"For purchase of this flat, Rs. 1.7 crore was transferred by Choksi to the Belgian bank account of his daughter and the money was again brought to India for making payment to the builder," the ED charged.

Also, diamonds worth Rs. 18.76 crore belonging to the Firestar group of Nirav Modi were seized as part of the latest order,it said.

It said it is getting issued letters rogatory or judicial requests to formalise the overseas attachments with the help of their foreign counterparts.

The total value of attachments in this case with this latest order stand at Rs. 4,488 crore now, it said.

The ED is probing this case along with the CBI where it is alleged that Nirav Modi and Choksi defrauded the Brady House branch of the Punjab National Bank (PNB) in Mumbai to the tune of about USD 2 billion (over Rs 13,000 crore) in alleged connivance with officials.

While Choksi has been last reported to be in the Caribbean nation of Antigua and Barbuda, the Interpol (global police) has recently issued a red corner notice against Bhansali in this case.

Source: PTI

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
DWWeeklypost
Search News by City
Advertisement
DWsubscription
Recent Issue
2022
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 31025
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 8089
GJEPC Chairman Interview
Views: 27243
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 37785
Promo for IJ Awards 2012 at NDTV Profit
Views: 51766
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 65415
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21151
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 49598
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 50983
Member of:
Supporter of: