PNB scam: ED attaches Thailand factory of Mehul Choksi’s group company worth over ₹13 crore | Latest News India - Hindustan Times
close_game
close_game

PNB scam: ED attaches Thailand factory of Mehul Choksi’s group company worth over 13 crore

New Delhi | ByPress Trust of India
Jan 04, 2019 05:27 PM IST

The agency said it has issued a provisional order for attachment, under the PMLA, of the factory premise owned by Abbeycrest (Thailand) Limited which is a “group company” of the Gitanjali group of companies.

The Enforcement Directorate (ED) Friday said it has attached a factory in Thailand worth over 13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi, in connection with the alleged USD 2 billion PNB fraud case.

The Enforcement Directorate has attached a factory in Thailand worth over <span class='webrupee'>₹</span>13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi.(HT File Photo)
The Enforcement Directorate has attached a factory in Thailand worth over 13 crore of a Gitanjali group company, owned by absconding diamond jeweller Mehul Choksi.(HT File Photo)

The agency said it has issued a provisional order for attachment, under the PMLA, of the factory premise owned by Abbeycrest (Thailand) Limited which is a “group company” of the Gitanjali group of companies.

Hindustan Times - your fastest source for breaking news! Read now.

“Investigations under PMLA revealed that Abbeycrest (Thailand) Limited is the beneficiary of the LoUs (Letters of Undertaking) issued fraudulently and unauthorisedly from the PNB to the tune of 92.3 crore. “During probe, this overseas property has been identified and after gathering concrete evidence of ownership it has been attached,” the ED said in a statement.

The value of the property is 13.14 crore, it added. The ED is probing this case under the Prevention of Money Laundering Act (PMLA).

Officials said ED investigators will soon get issued Letters Rogatories (judicial requests) for legal formalisation of the attachment of the foreign based asset. Choksi, his nephew and diamond jeweller Nirav Modi, and others are being probed under various criminal laws after the fraud came to light, following a complaint from the Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over 13,000 crore, with the purported involvement of some of its employees.

Both Choksi and Modi are absconding since the case was registered by the ED and the Central Bureau of Investigation (CBI). Choksi was last reported to be in the Caribbean nation of Antigua and Barbuda.

“With this attachment, the value of attachment/seizure in the PNB scam is to the tune of of 4,765 crore (approx). Further investigation is in process,” the ED said.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On