Mehul Choksi 13 thousand 600 crore accused of usurpation of two more
The CBI has registered two fresh cases against Choksi on charges of defrauding Punjab National Bank. CBI has registered fresh cases against Mehul Choksi and others for allegedly defrauding a consortium of banks to the tune of ₹55.27 crore.
Mehul Choksi and his nephew Nirav Modi are accused of embezzling 13 thousand 600 crores from Punjab National Bank. Both fled India in January 2018. The CBI had registered an FIR in this matter on 30 January. However, by then both the accused of cheating had fled the country. Till now efforts are being made to extradite both these accused to bring them to India.
The FIR has named Mehul Choksi, Gitanjali Gems, Nakshatra Brands, Gitanjali Gems Director Dhanesh Sheth, Kapil Khandelwal, CFO Chandrakant Karkare, an unknown officer and another person. An FIR has been registered under sections 120B, 409, 420 and 477A of the Indian Penal Code.
The first FIR has alleged that the accused persons have caused a loss of Rs 5564.54 crore to a consortium of 28 member banks led by ICICI Bank. In the second FIR, it has been alleged that the accused has caused a loss of Rs 807.72 crore to a consortium of nine member banks led by Punjab National Bank.
Mehul Choksi took the citizenship of Antigua and Barbuda in November 2017.
In July 2022, the CBI registered a case against Mehul Choksi for allegedly defrauding Canara Bank and Bank of Maharashtra to the tune of Rs 55.27 crore.