Latest news with #Gajera
Time of India
28-05-2025
- Time of India
25L ‘supari' put on friend over affair with wife
Surat: Police have cracked the case pertaining to yarn trader Sanjay Padshala, who was shot in the back on May 23. Sleuths of Godadara police and detection of crime branch (DCB) checked footage from 800 cameras to track down a person who was allegedly involved, Haresh Gajera, who revealed the plot to police. Gajera said Padshala had had an affair with the wife of his friend, Bhupat Dhaduk. Dhaduk paid Gajera Rs 25 lakh to arrange the contract killing (supari killing) of Padshala. Padshala was shot on the morning of May 23 when he was near the bridge at Parvat village. The bullet lodged in his back and he underwent surgery to remove it. During their investigation, police noticed a suspect on a motorcycle in several key bits of CCTV footage. This person was traced back to an apartment at Shivam Residency in Kamrej, which was found to belong to Haresh Gajera. Police arrested Gajera, who spilled the beans on the conspiracy. "Three months ago, Dhaduk had told Gajera that Padshala had been a good friend but betrayed him and had an 18-month affair with Dhaduk's wife. Dhaduk told Gajera to kill Padshala at any cost and Gajera took Rs 25 lakh for the killing. Gajera contacted Ravi Pradhan, who used to work as a driver at his embroidery unit a few years ago. Pradhan demanded Rs 20 lakh for the killing and took Rs 1 lakh in advance from Gajera. Pradhan then called three contract killers, who stayed at Gajera's flat in Kamrej on May 15. After conducting reconnaissance for a few days, one of them finally shot Padshala," the investigating officer said. After the shooting, Ravi called Gajera on May 24 and demanded the remaining Rs 19 lakh. Gajera met Ravi near Kharwasa Bridge and handed over the money. "The prime accused, Dhaduk, left his home after the shooting and is still at large. Ravi Pradhan has also left Surat with his family. We are yet to arrest three others — the shooter and his two aides," an officer said.
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Business Standard
19-05-2025
- Business
- Business Standard
Sebi orders Mehul Choksi to pay ₹2.1 crore for insider trading breach
India's market regulator, the Securities and Exchange Board of India (Sebi), has issued a notice to Mehul Choksi, asking him to pay ₹2.1 crore for violating insider trading rules related to Gitanjali Gems Ltd, according to a PTI report. Sebi warned that if the amount is not paid within 15 days, it will initiate proceedings to seize his properties and bank accounts. The notice, dated 15 May, includes a penalty of ₹1.5 crore and interest of ₹60 lakh. Sebi stated that if Choksi fails to comply, the recovery will be made by attaching and selling his movable and immovable assets. His bank accounts may also be frozen, and he could face arrest. This action follows Choksi's failure to pay a fine imposed in January 2022. The PNB scam Choksi, who was chairman, managing director, and promoter of Gitanjali Gems, is also the maternal uncle of Nirav Modi. Both men are accused of defrauding Punjab National Bank (PNB) of over ₹14,000 crore. They fled India after the scam came to light in early 2018. Choksi has been living in Antigua since 2018. Last year, he travelled to Belgium citing medical treatment. He was arrested there last month following an extradition request from Indian authorities. Nirav Modi was arrested by Scotland Yard in March 2019 and remains in custody in the UK. Insider trading case In its January 2022 order, Sebi found that Choksi had passed on confidential company information—classified as Unpublished Price Sensitive Information (UPSI)—to Rakesh Girdharlal Gajera. Gajera subsequently sold his 5.75 per cent stake in Gitanjali Gems in December 2017, just before news about fraudulent Letters of Undertaking (LoUs) became public. These LoUs were fraudulently issued for companies under the Gitanjali Group, including Gitanjali Gems Ltd. 'Noticee No. 1, Choksi, was found to have communicated UPSI to Noticee No. 2 (Gajera) without any underlying legal obligation or legitimate purpose,' Sebi said in its final order. Sebi concluded that both Choksi and Gajera violated the Prohibition of Insider Trading (PIT) regulations. This is not the first time Sebi has taken action against Choksi. In May 2023, the regulator issued a separate notice demanding ₹5.35 crore for alleged fraudulent trading in Gitanjali Gems shares. Another fraud case and non-bailable warrant Separately, earlier this month, a Mumbai court issued a non-bailable warrant against Choksi in a 2022 bank fraud case, where he and others are accused of defrauding a consortium of banks—Canara Bank and Bank of Maharashtra—of ₹55.27 crore. The Central Bureau of Investigation (CBI) registered a case in July 2022 after a complaint from a senior Canara Bank official. The case involves Bezel Jewellery (India) Private Limited, where Choksi and three others served as directors. They allegedly conducted fake transactions and defaulted on repayments, diverting and misusing funds.
