Latest news with #CanaraBank-led
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Business Standard
18-07-2025
- Business
- Business Standard
CBI court stays loan fraud case proceedings against Choksi till August 8
A special CBI court here on Friday stayed proceedings against diamantaire Mehul Choksi till August 8 in the ₹55 crore Canara Bank-led consortium loan fraud case. A magistrate court, in April, took cognizance of a chargesheet filed by Central Bureau of Investigation in the case and had issued summons to the accused, including Choksi and two former employees of Gitanjali group Vipul Chitalia and Aniyath Nair. However, their lawyers Vijay Agarwal, Rahul Agarwal and Jasmin Purani on Friday filed a revision application against the magistrate's order before the special CBI court claiming it was passed in "a mechanical manner without application of mind". The order summoning the accused has been passed with lightning speed on the same day of filing of chargesheet, without even perusing it, they claimed and sought interim relief until their plea is decided. Special Judge J P Darekar, presiding over the matter, found that the magistrate court's order does not reflect any opinion formed by it on the basis of the material in the chargesheet. It held that reasons are necessary not only for litigants but also for superior courts to know the thought process of the trial court. "The court expects at least some brief outline of the reasons which leads the trial court to form an opinion to issue summons in the case," the special judge noted. Therefore, there is prima facie error of giving no reasons in support of the order of issuance of process, the special judge said. It then stayed the magistrate court's proceeding till August 8, the next date of hearing. The court also issued notice to the CBI seeking its say in the plea. As per the CBI, Canara Bank and Bank of Maharashtra had sanctioned ₹30 crore and ₹25 crore, respectively, as working capital facilities under a consortium agreement to Bezel Jewellery. The loan was granted for the manufacturing and sale of gold and diamond-studded jewellery, but the company allegedly did not use it for the intended purposes, according to the CBI. The company did not repay the loan, causing a loss of ₹55.27 crore to the consortium, as per the agency. Choksi and his nephew Nirav Modi are prime accused in the ₹13,500-crore PNB 'scam'. While Choksi is fighting for bail in a court in Belgium, Nirav Modi has been in jail in London since 2019.
United News of India
30-04-2025
- Business
- United News of India
Maha: Mumbai court issues NBW against Mehul Choksi
Mumbai, Apr 30 (UNI) A court here has issued a non bailable warrant (NBW) against absconding diamond merchant and key accused in Punjab National Bank scam case Mehul Choksi, who is currently in the custody of Belgium police and facing extradition proceedings made by the Indian government, a lawyer said on Wednesday. He said that the NBW was issued in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. Additional Chief Judicial Magistrate (Esplanade Court) R B Thakur issued an order recently on a plea moved by the Central Bureau of Investigation (CBI) seeking a warrant against Choksi. "Issue standing non-bailable warrant against accused number two Mehul Chinubhai Choksi,' the additional CJM said in its order. The court directed CBI to file a report on execution of the warrant issued on or beore June two. UNI AAA SS
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Business Standard
30-04-2025
- Business
- Business Standard
Mumbai court issues non-bailable warrant against Mehul Choksi in fraud case
A court here has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) fraud, was arrested in Belgium on April 12 following an extradition request by Indian probe agencies. The non-bailable warrant against him was issued recently by Additional Chief Judicial Magistrate (Esplanade Court) R B Thakur. The matter has been adjourned to June 2 for a report on the warrant. The Central Bureau of Investigation (CBI) has alleged that the Canara Bank and the Bank of Maharashtra had sanctioned Rs 30 crore and Rs 25 crore, respectively, as working capital facilities under a consortium agreement to Bezel Jewellery. The loan was granted for the manufacturing and sale of gold and diamond-studded jewellery, but the company allegedly did not use it for the intended purposes, according to the CBI. The company did not repay the loan, causing a loss of Rs 55.27 crore to the consortium, the agency has alleged. Choksi and his nephew Nirav Modi are prime accused in the Rs 13,500-crore PNB fraud. While Choksi is fighting for bail in a court in Belgium, Nirav Modi has been in jail in London since 2019.
The Print
30-04-2025
- Business
- The Print
Mumbai court issues non-bailable warrant against Mehul Choksi in loan fraud case
The non-bailable warrant against him was issued recently by Additional Chief Judicial Magistrate (Esplanade Court) R B Thakur. Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) 'fraud', was arrested in Belgium on April 12 following an extradition request by Indian probe agencies. Mumbai, Apr 30 (PTI) A court here has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. The matter has been adjourned to June 2 for a report on the warrant. The Central Bureau of Investigation (CBI) has alleged that the Canara Bank and the Bank of Maharashtra had sanctioned Rs 30 crore and Rs 25 crore, respectively, as working capital facilities under a consortium agreement to Bezel Jewellery. The loan was granted for the manufacturing and sale of gold and diamond-studded jewellery, but the company allegedly did not use it for the intended purposes, according to the CBI. The company did not repay the loan, causing a loss of Rs 55.27 crore to the consortium, the agency has alleged. Choksi and his nephew Nirav Modi are prime accused in the Rs 13,500-crore PNB 'fraud'. While Choksi is fighting for bail in a court in Belgium, Nirav Modi has been in jail in London since 2019. PTI AVI NR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
New Indian Express
30-04-2025
- Business
- New Indian Express
Mumbai court issues non-bailable warrant against Mehul Choksi in loan fraud case
MUMBAI: A court here has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore. Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) 'fraud', was arrested in Belgium on April 12 following an extradition request by Indian probe agencies. The non-bailable warrant against him was issued recently by Additional Chief Judicial Magistrate (Esplanade Court) R B Thakur. The matter has been adjourned to June 2 for a report on the warrant. The Central Bureau of Investigation (CBI) has alleged that the Canara Bank and the Bank of Maharashtra had sanctioned Rs 30 crore and Rs 25 crore, respectively, as working capital facilities under a consortium agreement to Bezel Jewellery. The loan was granted for the manufacturing and sale of gold and diamond-studded jewellery, but the company allegedly did not use it for the intended purposes, according to the CBI. The company did not repay the loan, causing a loss of Rs 55.27 crore to the consortium, the agency has alleged. Choksi and his nephew Nirav Modi are prime accused in the Rs 13,500-crore PNB 'fraud'. While Choksi is fighting for bail in a court in Belgium, Nirav Modi has been in jail in London since 2019.
