PNB scam: Fugitive jeweller Mehul Choksi booked by CBI in 3 fresh cases of Rs 6,700-Cr bank loan fraud | PTI
The CBI has registered three separate cases against diamantaire Mehul Choksi and his related companies for allegedly duping Punjab National Bank (PNB) and a consortium of banks collectively to the tune of over Rs 6700 crore from 2010 to 2018.
According to the CBI, the complainant in all the three cases is Vijay Kumar Wadhwa, Deputy General Manager of PNB Zonal Office in Mumbai. The cases have been registered under sections 120B (criminal conspiracy), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating), 477A (falsification of accounts) of the Indian Penal Code and section 13 (criminal misconduct by a public servant) of the Prevention of Corruption Act.
What are the three cases against Choksi
In the first case, a written complaint was received in March 2022 from PNB against M/s Gitanjali Gems Ltd (M/s GGL), its promoter Mr Choksi, the firm’s Director Dhanesh Seth, Joint President-Finance Kapil Khandelwal, CFO Chandrakant Karkare, and unknown public servants for allegedly causing wrongful loss of Rs5564.54 crore to a consortium of 28 banks led by ICICI Bank.
As per the FIR, Mr Choksi allegedly dominantly controlled and managed M/s GGL in active connivance with other accused persons. He was involved in fudging of accounts, siphoning of funds and utilising the sanctioned…
