PNB scam: Income Tax department confiscates Mehul Choksi's properties
Apr 15, 2022
New Delhi [India], April 15 : The properties of fugitive diamantaire Mehul Choksi, who is accused in the multi-crore Punjab National Bank (PNB) scam case, have been confiscated by the Income Tax department, an official said on Friday.
Nine acres of agricultural land in Nashik are being taken over by the Income Tax department, the official added.
Last month, the Central government informed the Rajya Sabha that assets amounting to Rs 19,111.20 crore relating to fugitives economic offenders Vijay Mallya, Nirav Modi, and Mehul Choksi have been attached by March 15 this year.
Minister of State for Finance Pankaj Chaudhary made the declaration in a written reply to a question asked by Bharatiya Janata Party leader Brij Lal.
In the cases pertaining to Vijay Mallya, Nirav Modi, and Mehul Choksi who have defrauded Public Sector banks by siphoning off the funds through their companies which resulted in a total loss of Rs 22,585.83 crore to the public sector banks, as of March 15, 2022, the Minister said, "assets worth Rs 19,111.20 crore have been attached under the provisions of PMLA".
In addition, the Minister said assets worth Rs 335.06 crore have been confiscated by the government of India.
The Punjab National Bank scam relates to the fraudulent letter of undertaking issued by the bank. Jeweller and designer Nirav Modi is the key accused in the case.
