The Central Bureau of Investigation (CBI) has filed a new FIR against Mehul Choksi along with some other people for duping the Bank of Maharashtra and the Canara Bank with ₹55 crore. As per the media reports, CBI has named Mehul Choksi, Dinesh Bhatia, Chetna Jhaveri and Milind Limaye, the full-time directors of Bezel Jewellery in the list of accused.
The chief general manager (CGM) of the Canara Bank along with a copy of Mandate of the Bank of Maharashtra, lodged a written complaint in the matter, as per the registered FIR. According to the Tweet posted by news agency ANI:
“CBI registers another FIR against Mehul Choksi in Rs 55 cr bank fraud case.”
It is claimed that although the loan was given for the purpose of manufacturing and selling gold and diamond-encrusted jewellery, the company did not conduct any of its commercial dealings through the account in order to conceal money-diversion.
As per the complaint, Canara Bank and Bank of Maharashtra granted M/s. Bezel Jewellery India Pvt Ltd (BOIPL) a working capital facility of Rs 30 crore and Rs 25 crore, respectively, as part of a consortium led by Canara Bank. However, the BIPL immediately repaid its long-term borrowings of ₹18 crore to its parent company, diverting its working capital limits.
Businessman Mehul Chinubhai Choksi, the owner of Gitanjali group, who now resides in Antigua and Barbuda, is wanted by the Indian Judicial Authorities on charges of criminal conspiracy, criminal breach of trust, fraud, including delivery of property, corruption, and money laundering.