Mehul Choksi's Rs 46 crore assets to be auctioned; court gives permission

 

 

A special court in Mumbai has given permission to auction the assets of controversial businessman Mehul Choksi. The court has given permission to auction properties worth Rs 46 crore owned by Choksi's Gitanjali Gems Limited. The court also said that the money received from the auction should be kept in a fixed deposit in the name of the court.

13 properties, including flats and gems, are up for auction. India alleges that diamond merchant and founder of Gitanjali Gems Mehul Choksi and his nephew, controversial businessman Nirav Modi, cheated Punjab National Bank and committed loan fraud.