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Choksi's seized properties can be monetised: Court
Hindustan Times Amritsar
|December 11, 2024
PROPERTIES WORTH OVER ₹125 CRORE HAVE BEEN HANDED OVER TO THE LIQUIDATOR AS PART OF THE PROCESS, SAYS ED
MUMBAI: A special court in Mumbai on Tuesday permitted the monetisation of assets worth over ₹2,500 crore that were attached or seized by the Enforcement Directorate (ED) as part of its money-laundering probe against fugitive diamantaire Mehul Choksi in the alleged Punjab National Bank (PNB) fraud case.
Properties worth over ₹125 crore have been handed over to the liquidator as part of the process, ED said.
The decision by a special Prevention of Money Laundering Act (PMLA) court followed an application from the victim banks—PNB and ICICI Bank—for initiating the restitution process under PMLA Act.
This story is from the December 11, 2024 edition of Hindustan Times Amritsar.
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