Mehul Choksi diverted Rs 4,000cr to his subsidiaries: Report
Beeps By | Jun 27 2018

Mehul Choksi, the owner of Gitanjali Gems, has been reported to have siphoned off about Rs 4,000cr of the Rs 6,000cr from LoUs and foreign letters of credit issued by PNB. The amount has been diverted to foreign firms that are associated with him and also to buy a villa in the UAE. His firms availed of LoUs and FLCs worth over Rs 23,000cr from PNB.

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