Mehul choksi: Market regulator SEBI has taken a big action on fugitive diamond businessman Mehul Choksi. SEBI has ordered to attach Mehul Choksi’s bank accounts, mutual funds and shares to recover Rs 2.1 crore. SEBI imposed a fine of Rs 2.1 crore on the vigil for violating the Insider Trading Rules in the shares of Geetanjali James. This includes a fine of Rs 1.5 crore and an interest of Rs 60 lakh.

SEBI imposed a fine in 2022

The chairman of Geetanjali James and MD Choksi is accused of sharing unpublished price-sensitive information (UPSI) with his colleague Rakesh Girdharlal Gajera. Let us know that after the demand notice sent to Mehul Choksi on May 15, this step has now been taken, which said that if he does not pay money within 15 days, then his assets as well as bank accounts will be attached. In January 2022, a demand notice was sent to the watchman after failing to pay the fines imposed by SEBI.

To recover the arrears, SEBI has asked all banks, deposits – CDSL and NSDL – and mutual funds not to allow any kind of debit from Choksi’s account. However, credit has been allowed. Apart from this, SEBI has instructed banks to seize all accounts including defaulter lockers.

Carison accused of PNB scam worth 14,000 crore

Nirav Modi’s maternal uncle Mehul Choksi is accused of cheating more than Rs 14,000 crore from Punjab National Bank (PNB) in the public sector. Both escaped from the country after the PNB scam surfaced in early 2018. Following extradition request of Indian investigative agencies, 65 -year -old vigil was arrested from Antwerp city of Belgium in April.

The vigilant was living in Antigua since leaving India in the year 2018. In the year 2023, he went to Belgium to get a vigil medical treatment, then he was locked there. Currently, he is in custody at the extradition request of India and the main allegation of PNB scam, his nephew Nirav Modi is also in Britain’s jail.

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Mehul choksi: Mehul Choksi, the main accused in the Rs 13,800 crore PNB fraud case, has been arrested in Belgium and now the preparation to bring him to India has intensified. After escaping from India in 2018, he was now arrested on the request of Indian agencies while escaping several times. Choksi, 65, was allegedly detained from a Belgian hospital, where he was admitted for treatment since last year.

Red notice removed against Mehul

Investigation agencies, including the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), have stepped up the preparations to bring back the Interpol Red notice against him. The red notice is issued to the person who is wanted by a member country for a serious crime and other member countries are urged to help him to detect or arrest.

Mehul’s lawyer confirmed arrest

The government of Belgium had already confirmed Choksi to stay there. Especially, after the news of Choksi’s sudden disappearance from Antigua in May 2021, the government there took further seriously.

Talking about his arrest, Mehul’s lawyer Vijay Aggarwal said, “Currently, he is in jail and there is a process to file an appeal, not to file an application for bail (Belgium). During that appeal, it is requested not to keep him in custody and allow him to defend himself and oppose extradition request. “

In this way, fake was done

Choksi, the owner of the Gitanjali Group, is the main accused in the case of cheating India’s second largest public sector bank PNB in ​​India through fake letters of undertaking (LOU) and foreign credit letters (FLC) allegedly in connivance with bank officials. Nirav Modi, the nephew of Choksi, another accused in the case, is currently lodged in a London jail.

As part of the extradition request, Indian authorities shared at least two non-bailable warrants with their Belgian counterparts, issued by a special court in Mumbai in 2018 and 2021. However, this is not the first time Mehul has been detained, but earlier also Mehul was detained for illegal entry into Dominica. During that time a CBI team also tried to bring him to India, but later the court allowed him to return to Antigua for medical treatment.

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