Sebi never gave clean chit to Choksi for Antigua's citizenship, says report

Aug 06, 2018, 09:05 IST | Agencies

As per the report, the CIU received documentation of two instances in which Sebi opened investigations on a corporate entity owned by Choksi

Sebi never gave clean chit to Choksi for Antigua's citizenship, says report
A Congress supporter shouts slogans as police try to control him during a protest in New Delhi. File Pic/AFP

Markets regulator Sebi never gave any clean chit report on fugitive businessman Mehul Choksi to Antigua's citizenship-for-investment authority, a senior official said. The regulator is continuing with its probe into alleged violation of capital market regulations by the Mehul Choksi-Nirav Modi duo and their associates, including some brokers in connection with two listed firms — PNB and Gitanjali Gems, the official added.

The regulator will now also consider sending the notices for Choksi to Antigua as the absconding businessman has been granted a citizenship there, the official said. Last week, an Antiguan media report quoted the country's Citizenship by Investment Unit (CIU) as saying that Choksi was granted citizenship there last year after a background check on him got 'no adverse report' from Indian authorities, including Sebi.

As per the report, the CIU received documentation of two instances in which Sebi opened investigations on a corporate entity owned by Choksi. Reacting to this, Sebi issued a statement saying, "Sebi has neither received any request from the CIU of Antigua for updates on any probe nor provided any such information to CIU." Agencies

India requests Antigua to extradite Choksi
India has handed over a request to Antigua for extradition of bank fraud fugitive Mehul Choksi, who has obtained citizenship of the Caribbean nation. Official sources said a team from India was sent to Antigua to pursue the authorities there to extradite Choksi. "The team met the foreign ministry officials of the island nation on Saturday and handed over the request," a source said. Choksi is one of the alleged masterminds of the $2 billion scam in Punjab National Bank.

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