Mehul Choksi. (file photo)
Mehul Choksi, accused of the PNB scam, is once again in the news. Market regulator SEBI has sent a notice to the fugitive businessman on Thursday in the case of fraud in the shares of Gitanjali Gems Limited, in which a demand of Rs 5.35 crore has been made. SEBI has written in the notice that if Mehul Choksi does not deposit this amount in 15 days, then the property and bank account can be attached along with the arrest.
SEBI notice to Choksi
SEBI has sent a new notice to Mehul Choksi. In which the fugitive businessman has been fined Rs 5.35 crore and asked to deposit it in 15 days. This amount includes interest along with the principal amount. If Choksi does not pay on time, major action can be taken against him. According to SEBI, in case of non-deposit of money, the movable and immovable assets of the vigilance will be confiscated. The amount will be recovered by auctioning it. At the same time, even the bank accounts of Mehul Choksi will be frozen and even arrest can be made.
Earlier also a fine of five crore rupees was imposed
SEBI had sent a notice to Mehul Choksi in the case of fraud in the shares of Gitanjali Gems earlier also. In this case, SEBI had imposed a fine of five crore rupees on Choksi in October 2022. At the same time, Choksi was banned from the stock market by Regulati for 10 years. Prior to that, SEBI had also issued a show cause notice to Choksi in May 2022 in the same case of fraud in the shares of Gitanjali Gems.
main accused of pnb scam
Mehul Choksi was the chairman and MD of Gitanjali Gems. He along with Nirav Modi had done fraud of more than 14 thousand crore rupees with PNB. This fraud came to the fore in the year 2018. Even before that, both Mehul Choksi and Nirav Modi had fled abroad. According to information, Choksi is said to be in Antigua and Barbuda, while on the other hand, Nirav Modi is spending days in British jail.