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Ten biggest wilful defaulters owe ₹40,825 cr to banks
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Sebi attaches bank, demat, MF accounts of Mehul Choksi to recover dues
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Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues of Rs 5.35 crore for indulging in fraudulent trading in the shares of Gitanjali Gems. Choksi is the maternal uncle of Nirav Modi, and both of them are facing charges of defrauding Punjab National Bank of over Rs 14,000 crore. To recover dues, Sebi has asked all banks, depositories, and mutual funds not to allow any debit from Choksi s accounts, including lockers, and attach all accounts held by the defaulter.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore.
The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd.
Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
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