The Enforcement Directorate has attached a factory worth ₹13.14 crore in Thailand in connection with the Punjab National Bank fraud case against fugitive Mehul Choksi, taking the total amount of attachments to ₹4,765 crore.
The ED probe had revealed that Abbeycrest (Thailand) Limited, which is linked to Mr. Choksi’s group company Gitanjali, was a beneficiary of the Letters of Undertaking(LoUs) issued fraudulently through the bank’s Brady House branch in Mumbai. Those letters authorised release of ₹92.3 crore.
During investigation, the Directorate identified the property in Thailand and after gathering concrete evidence of ownership, it issued orders for attachment of the assets.
The ED has registered two separate money-laundering cases pertaining to the PNB fraud, one against diamond merchant Nirav Modi, his companies, business partners and associates, the other against Mr. Choksi, his companies and associates, based on the FIRs registered by the Central Bureau of Investigation.
Extradition request
India has moved requests seeking extradition of Mr. Choksi from Bermuda and Mr. Nirav Modi’s extradition from the United Kingdom. Interpol Red Notices have already been issued against them, seeking their detention and repatriation for facing trial in the PNB fraud case.
The agencies have also shared the relevant documents with the authorities concerned in Bermuda and the U.K. to expedite the process of extradition.
