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Mehul Choksi: Vigilance is the main accused in the PNB scam of Rs 13,500 crore, currently living in Antigua and Barbuda and India is trying to extradite extradition.
Mehul choksi: A special court in Mumbai has cleared the auction of assets worth Rs 2,565 crore of fugitive diamond businessman Mehul Choksi. This decision has been taken under the ongoing legal action against the vigil in the Punjab National Bank scam. The vigilance is the main accused in the PNB scam of Rs 13,500 crore, currently living in Antigua and Barbuda and India is busy in extradition efforts.
Which properties can be auctioned
The Special PMLA Court allowed the Enforcement Directorate (ED) to auction vigil and assets related to its companies. These properties include flats, bungalows, office spaces, and land in Mumbai, Delhi, and other cities. Apart from this, some properties related to the vigilance company Geetanjali James Limited are also under the auction. The ED has considered these properties to be purchased from illegal money earned from the PNB scam.
What is ED claim
It is worth noting that this order of the court will help the banks to recover the damage in the scam. PNB and other banks had filed a complaint against Mehul Choksi and his nephew Nirav Modi on a large scale financial irregularities. The ED claims that Choksi earned money from banks through fake letter of undertaking and transferred it to foreign accounts.
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