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Mehul Choksi Defrauded Rs 6,500 Crore From PNB, Says CBI

The Central Bureau of Investigation (CBI) has filed a supplementary charge sheet against fugitive diamond trader Mehul Choksi. Mehul Choksi, along with his nephew Nirav Modi are alleged for frauding Rs 13,500 crores in Punjab National Bank (PNB) Bank fraud case.

The fresh charge sheet is notable as the agency has found Choksi responsible for defrauding PNB Bank of Rs 6,498 crores by replacing 142 letters of understanding (LOUs), 58 foreign letters of credit (FLCs) with 311 fake invoices to avail credit. “The supplementary charge sheet will help strengthen India’s case against Choksi as the probe agency has been able to gather evidence against him, as detailed in the FIR,” an official aware of the development said.

The previous charge sheet covered only a handful of LoUs and FLCs. The supplementary one covers all the LoUs and FLCs which are listed in the FIR, the official said. CBI has evidence that Choksi’s Gitanjali Gems Ltd got 142 LoUs and 58 FLCs, respectively, in 2017 through Gokulnath Shetty, former deputy manager, and Manoj Hanumant Kharat, Single Window Operator, of PNB’s Brady House branch in Mumbai.

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