New Delhi: Acting against economic offender Mehul Choksi, the Enforcement Directorate (ED) has attached one of his posh flats in Mumbai and other valuables worth ₹ 14.45 crores of Gitanjali Group of companies in PNB Bank Fraud case.
According to the officials, the attached assets are in the form of immovable properties comprising of a flat admeasuring 1460 sq. ft at O2 Tower, located at Goregaon, Mumbai and movable assets in form Gold, Platinum Jewellery, Diamond Stones, Pearl-Silver Necklaces, Watches and Mercedes Benz car held in name of Gitanjali Group of companies and its director Mehul Choksi.
It was alleged that Mehul Choksi, Gitanjali Gems and others have committed the offence of cheating against Punjab National Bank in connivance with certain bank officials by fraudulently getting the LOUs issued and got the FLCs (foreign letter of credit) enhanced without following prescribed procedure and caused a wrongful loss to the bank.
Officials said that during the investigation under PMLA, it is revealed that PNB bank officials in connivance with Mehul Choksi, Gitanjali Gems and others originally issued FLCs for a smaller amount within the sanctioned limit and once FLC number was generated, the same number was used for amendment by way of enhancement of FLC by way of increase in the amount and such enhancement of amount was done at 4-5 times higher value of the original FLC amount and such amendments were done outside the CBS system and hence it was not captured in the books of bank.
“Further it is also found that branch was holding documents of original FLC amount and no import documents of such increased amount were found in the branch and much of fraudulent FLCs payments have gone to liquidate the overseas exporter’s liability arising out of earlier FLCs/discounting of bills,” official said.
Earlier ED has already attached properties worth more than ₹ 2,550 crores and now ED has attached assets worth ₹ 14.45 crores of Gitanjali Group of Companies and its director Mehul Choksi.