Mumbai Flats Restored to Aid Victims in Choksi Fraud Case

The Enforcement Directorate has returned four flats in Mumbai, formerly linked to fugitive Mehul Choksi, to an official liquidator as part of ongoing money laundering investigations. These flats were attached due to their association with the PNB loan fraud case and will be monetized to compensate victims.

The Enforcement Directorate recently restored four Mumbai flats, linked to absconding diamantaire Mehul Choksi, to the official liquidator. This move is part of the money laundering investigation concerning the PNB loan fraud case.

The properties, situated in Project Tatva, Urja 'A Wing' on Dattapada Road, Borivali (East), were taken over by the liquidator as of November 21. This enables the monetisation of these assets, benefiting victims, secured creditors, and legitimate claimants.

The Prevention of Money Laundering Act (PMLA) allows for the restitution of such assets to victims, including banks. The Enforcement Directorate is collaborating with lenders to expedite the monetisation process for assets and compensate the banks defrauded by Choksi and his associates.

(With inputs from agencies.)