The said attachment includes 3 commercial properties in Dubai, valuables, one Mercedes Benz E280 and Fixed Deposit Account controlled by accused Mehul Choksi.
Mehul Choksi
Enforcement Directorate (ED) provisionally attached immovable properties, valuables, vehicle, bank account having a total value of Rs. 24.77 Crore of accused Mehul Choksi under Prevention of Money Laundering Act, 2002(PMLA) in Punjab National Bank Fraud Case.
The attachment that is mentioned includes 3 commercial properties in Dubai, valuables, one Mercedes Benz E280 and Fixed Deposit Account controlled by the accused Mehul Choksi.
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ED initiated an investigation in a money laundering case against Mehul Choksi and others on 15.02.18 under the provisions of PMLA on the basis of FIR registered by Central Bureau Of Investigation (CBI) under sections 120-B r/w 420 of IPC, 1860 read with Section 13(2) read with 13(1)(d) of PC Act, 1988. Mehul Choksi and others have committed a cheating offence against Punjab National Bank in connivance with certain bank officials by fraudulently getting the Letter Of Undertaking/Foreign Letters of Credit issued causing wrongful loss to the bank.
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Out of total Proceeds of Crime worth Rs. 6097.73 Crore, ED has attached and seized properties worth Rs. 2534.7 Crore including this attachment. Accused Mehul Choksi is suspected to be in Antigua and Barbuda. An Extradition Request has also been sent. A Red Corner Notice has also been issued against Mehul Choksi on the request of ED. A Prosecution Complaint has also been filed.
Further investigation is in process.
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