New Delhi: State-run state-run United Bank of India has declared fugitive diamond trader Mehul Choksi and his company Gitanjali Gems as 'willful defaulters'. The bank has issued a public notice in this regard. The bank has also sent notices to Choksi and Gitanjali Gems for payment of the outstanding dues of Rs 332 crore. Earlier in February 2018, a case of loan fraud worth thousands of crores of rupees was reported in another public sector bank Punjab National Bank (PNB).
PNB was cheated by diamond businessman Nirav Modi and his maternal uncle Choksi. The two had defrauded the bank of more than Rs 13,000 crore through PNB's South Mumbai's Brady House branch. After the issue came to light, Punjab National Bank's shares had seen a huge decline. As per the public notice issued by United Bank, the bank has declared the company and Choksi as the defaulter from April-June quarter.
According to reports, UBI had sent several notices to Choksi's company to repay the loan. The bank has taken this step against Choksi and Geetanjali Gems for not paying the loan despite the notice. Apart from Choksi, the bank has also issued notices against the directors of his wife Preeti Choksi and Geetanjali Gems. Let us know that the watchful Abi is taking refuge abroad.
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