ED attaches Dubai properties of Mehul Choksi worth Rs 24.77 crore

1 / 1

ED attaches Dubai properties of Mehul Choksi worth Rs 24.77 crore

According to the probe agency, the ED has provisionally attached immovable properties, valuables, vehicle, bank account having total value of Rs 24.77 crore of accused Mehul Choksi under Prevention of Money Laundering Act (PMLA) in Punjab National Bank fraud case.

Probe agency Enforcement Directorate (ED) has attached properties of fujitive diamantaire Mehul Choksi worth over Rs 24.77 crore in Dubai in connection with the Rs 13,000 crore Punjab National Bank scam.

According to the probe agency, the ED has provisionally attached immovable properties, valuables, vehicle, bank account having total value of Rs 24.77 crore of accused Mehul Choksi under Prevention of Money Laundering Act (PMLA) in Punjab National Bank fraud case.

The attachment includes three commercial properties in Dubai, valuables, one Mercedes Benz E280 and a fixed deposit account controlled by the accused, Mehul Choksi.

The ED had initiated its investigation on the basis of an FIR filed by the Central Bureau of Investigation (CBI) against Mehul Choksi, Nirav Modi and others on charges of money laundering and defrauding the PNB to the tune of over Rs 13,000 crore.

Mehul Choksi, along with the other accused, have committed the offence of cheating against the Punjab National Bank in connivance with certain bank officials by fraudulently getting the Letter Of Undertaking and Foreign Letters of Credit issued causing wrongful loss to the bank, the ED said.

Acting against Mehul Choksi, who is in Antigua, till date, the ED has attached and seized properties worth Rs 2,534.7 crore including the recent attachment of Rs 24.77 crore.

Mehul Choksi has been declared as absconding in the PNB scam case and an extradition request by the Indian government has been sent to Antigua and Barbuda. A Red Corner Notice has also been issued against him on ED's request.

Antigua Prime Minister Gaston Browne, in a recent statement, said that they will revoke Mehul Choksi's citizenship and they will extradite him to India once the diamontaire has exhausted his legal options.

Choksi, on the other side, maintains that due to his ill-health, he can't travel to India and the officers of the CBI and the ED can question him through video conferencing.

However, the ED in an affidavit before the court, rejected the request made by Choksi and said that they are ready to arrange his travel back to India in an air ambulance.