A court in Mumbai has issued a non-bailable warrant against Mehul Choksi in a loan fraud case involving Rs 55 crore. The case is related to a loan taken from a group of banks led by Canara Bank.
Choksi, who is already a key accused in the big Punjab National Bank (PNB) fraud, was arrested in Belgium on April 12 after India requested his extradition.
The warrant was issued by Judge R. B. Thakur at Esplanade Court. The court will next review the case on June 2 for an update on the warrant.
According to the CBI, Canara Bank and the Bank of Maharashtra gave a loan of Rs 30 crore and Rs 25 crore to Choksi’s company, Bezel Jewellery. The money was meant for making and selling jewellery, but the company reportedly misused the funds and did not repay the loan.
This caused a total loss of over Rs 55 crore to the banks, the CBI said.
Be the first to comment