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The Status Report of the Configuration Directorate (ED) on the PNB scam of RS 13,000 million rupees that involves Diamonde Mehul Choksi of Rupias Euncolling, gives extensive details of action tasks by the agency
Mehul Choksi, 65, fled from India on January 2, 2018 and is one of the main defendants in PNB fraud of RS 13,850 Crore, along with his nephew Nirav Modi. (IANS file photo)
Attachment of Properties Worth RS 2,566 Crore, Liquidation Process for RS 150-CORE ASSETS TO THE PROCESS OF RESTision of Those On Foreign Land, The Enforcement Director of the Director’s Director’s Diamantaire Diamantaire diamamantaire diamantaire diamamantaire diamamantaire diamamantaire diamamantaire diamamantaire diamamantaire diamamantaire diamamantaire diamamantaire. The agency. CNN-NEWS18 has accessed the report exclusive.
Chaksi was arrested in Belgium on April 12. The Belgian police touched their custody in Antwerp based on an extradition application transferred by the Central Investigation Office (CBI) and ED.
Attached properties
- The properties worth around 1,968 million rupees have a attached bee in this case through nine provisional attachment orders (PAO). These attached properties include 105 number of immovable properties that have a value of more than 1.6 billion approximately rupees (floors, office units, land plots, commercial buildings and factor units located in Mumbai, Raigad (MH), Nashik, Nagpur, Kolkata, Surat, Villupuram (TN), Ranga Reddy District etc). In addition, the attached properties include jewels/diamonds/precious metals worth around 230 million rupees.
- The attached properties worth 85 million rupees are in foreign jurisdictions of the EAU, USA, Thailand and Japan, which include floors, offices, factories and stakes in a Japanese company.
- Mobile properties (jewelry/value objects) for an approximate value of RS 598 million rupees have been seized in this case as a result of search actions in 136 locations throughout India that cover almost all the main cities of India.
- The total attachment value and seizures in the case is RS 2,566 million rupees.
Monetized properties
The properties involved in this case have been in attachment or since 2018. Due to the delays in the final result of PMLA and UGO matters, these assets have deteriorated and losing value, with problems such as leaks and storage). To address this, the meetings were heroes among the officials of the, PNB, Icici Bank and Seepz. The consensus was achieved to monetize the temporarily attributed duty/seized assets, since the final result of PMLA and ugly issues would take time. The banks had the task of assessing and auctioning the properties, and the busy were deposited as fixed deposits in the special court of PMLA, Mumbai, waiting for the result of the case.
A joint request was submitted that describes the terms of thesis before the Special Court on 10.09.2024 that was allowed. According to the courts of the Court, the liquidators of the group entities/entities were ordered to be assessed in such subsequent properties to which they must be auctioned by due due process. The sales processes of these assets would be deposited as FDS in favor of the courts. These sales processes deposited in FDS will be distributed in accordance with the final result of applications 8 (7) and 8 (8).
Since then, the attached/seized assets of the Gitanjali Group were Spross India, officials of ED-MBZO-I and Liquidator of M/S Gitanjali Gems Ltd. systematically planned delivering said assets to the liquidator for the purposes of its valuation and auction according to the court order of 10.09.2024.
After obtaining the properties valued according to the processes highlighted by the Special Court, on October 23, 2024, six of those properties (floors with number 101, 102, 201, 202 and 203 located in Kheni Tower Santacruz, East Mumbai 21.04 Crore were delivered to the Liquidator of M/S Gitanjali Gems Ltd).
On December 5, 2024, two more properties and construction on plot No -61, Seepz and (2) lands and buildings on plot No -16, SEEPZ -Colelectively the word RS 98.03 were also delivered to the liquidator of m/s Gitanjali Gems Ltd ..
On January 24, 2025, three of these properties: Floors No. 301, 302 and 303 located in Kheni Tower Santacruz, East Mumbai, with a collective value of approximately RS 10.52 million rupees where Gems Gemsd.
On February 5, 2025, two more properties: Floors No. 801 and 802, Prasad Chambers, Opera House, Mumbai – collectively that are worth approximately 10 million 10 million rupe 11.04.2025, jewels 10, 10. Vibhag -2, Surat were delivered to the liquidator or Gitanjali Gems Ltd.
Until now, the properties worth 150 million rupees have been delivered to the liquidator of M/S Gitanjali Gems Ltd. The remaining assets are delivered to the liquidator/banks according to the request of September 10.
The liquidator in this case is the same as in the Nirav Modi case, therefore, the delivery or properties program depends on the availability of the liquidator. The seized assets include thousands of small items that include imitation jewelry stores, whose assessment also requires a lot of time. For example, valuable objects and jewelry seized in the Khenni tower in Mumbai have consumed more than a month.
The special court order of September 10, 2024 was particularly for the assets that are insured to the banks. However, there are numerous assets in this case that are or the Guitanjali/ Choksi group but are not mortgaged to the banks. Therefore, one more request was transferred to the Special Court for such properties. The Court, recent through its order of February 13, 2025, allowed the ED to transmit such non -mortified properties to the liquidator for its monetization.
To obtain restored foreign properties
In this case, until now, 15 LRs have been sent to countries such as Hong Kong, Singapore, Thailand (2), USA (2), Belgium, China, Italy, Japan (2), United Kingdom and Eau (3) to obtain details of companies, assets, bank accounts, execution of PAO and to obtain other information related to Choksi & his Gitanjali.
Or these requests, Lrs A Thailand, USA, Japan and EAU are for the application or paos or what assets are worth 85 million rupees or Choksi.
