Choksi's seized assets can be monetised, says court
Hindustan Times Rajasthan|December 12, 2024
A special court in Mumbai on Tuesday permitted the monetisation of assets worth over ₹2,500 crore that were attached or seized by the Enforcement Directorate (ED) as part of its money-laundering probe against fugitive diamantaire Mehul Choksi in the alleged Punjab National Bank (PNB) fraud case.
Abhishek Sharan
Choksi's seized assets can be monetised, says court

MUMBAI: A special court in Mumbai on Tuesday permitted the monetization of assets worth over ₹2,500 crore that were attached or seized by the Enforcement Directorate (ED) as part of its money-laundering probe against fugitive diamantaire Mehul Choksi in the alleged Punjab National Bank (PNB) fraud case. Properties worth over ₹125 crore have been handed over to the liquidator as part of the process, ED said.

The decision by a special Prevention of Money Laundering Act (PMLA) court followed an application from the victim banks—PNB and ICICI Bank—for initiating the restitution process under PMLA Act.

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