Mumbai: Gitanjali Gems promoter Mehul Choksi, a key accused in the multi-crore Punjab National Bank (PNB) scam case, today moved a special court here seeking cancellation of a non-bailable warrant (NBW) issued against him.<\/p>\n
Choksi’s lawyer Sanjay Abbot moved the application before special CBI court judge J C Jagdale.<\/p>\n
In the application, he claimed that he cannot travel because of his medical condition.<\/p>\n
The diamond merchant also claimed he was unable to disclose his current location as he was facing a threat to his life from various persons.<\/p>\n
Choksi said that he never sought to avoid the investigation or the probe agencies and had duly responded to all the communication that he received from the investigating agencies.<\/p>\n
He also contended that his case was completely different from that of his relative and billionaire jeweller Nirav Modi.<\/p>\n
Choksi said the Enforcement Directorate attached his assets after registering a case based the first Central Bureau of Investigation FIR pertaining Nirav Modi even though he (Choksi) had got nothing to do with it.<\/p>\n
After the hearing, the judge directed the CBI to file a reply and posted the matter for hearing on July 11.<\/p>\n
The special CBI court, after taking cognisance of the second charge sheet filed in the PNB fraud case, had last month ordered the issuance of the NBW against Choksi.<\/p>\n
The issuance of the alleged fraudulent letters of understanding (LoUs) is said to be the crux of the mega financial fraud.<\/p>\n
An LoU is a guarantee which is given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant.<\/p>\n
In case of default, the bank issuing the LoU has to pay the liability to the credit-giving bank along with accruing interest.<\/p>\n
Modi and his uncle Choksi are among the main accused in the fraud case pegged at over Rs 13,400 crore. They have been booked in nearly half-a-dozen cases related to the bank fraud.<\/p>\n
Choksi and Modi are said to have left the country before criminal cases were lodged against them in February.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai: Gitanjali Gems promoter Mehul Choksi, a key accused in the multi-crore Punjab National Bank (PNB) scam case, today moved a special court here seeking cancellation of a non-bailable warrant (NBW) issued against him. Choksi’s lawyer Sanjay Abbot moved the application before special CBI court judge J C Jagdale. In the application, he claimed that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[42858,31987,42474,41655,29168,41898,42857],"class_list":["post-53238","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-diamond-merchant","tag-featured","tag-gitanjali-gems","tag-mehul-choksi","tag-nbw","tag-pnb-scam","tag-sanjay-abbot"],"yoast_head":"\n