NEW DELHI: Properties worth Rs 2,566 crore of fugitive businessman Mehul Choksi would now be ready for auctioning after a special Mumbai court order. The properties were attached by the Enforcement Directorate (ED) in the PNB fraud case.
The ED has already started the process of handing over the properties to the liquidator and assets worth Rs 125 crore have been handed over to the liquidator of Gitanjali Gems, the company once owned by Choksi.
“The handed over properties include flats situated at Mumbai and two factories/godowns situated at SEEPZ Mumbai. Restitution of the rest of the properties is in progress,” said the enforcement directorate, the agency that investigates matters related to money laundering.
Gitanjali Gems went into corporate insolvency resolution process (CIRP) in 2018 and after three-and-a-half years, the National Company Law Tribunal (NCLT) ordered liquidation of the company. The company had a debt of Rs 39,000 crore, of which it owed Rs 25,000 crore to banks and financial institutions and Rs 13,000 crore to government.