NEWS
21/01/2019 10:28 AM IST

Mehul Choksi, Accused In The PNB Fraud, Gives Up Indian Citizenship

Mehul Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore.

Mint via Getty Images

Mehul Choksi, accused in the Rs 14,000-crore Punjab National Bank fraud, has surrendered his Indian passport to Antigua and given up citizenship, NDTV reported.

The fugitive jeweller, who was granted citizenship of Antigua and Barbuda in 2017, submitted his passport to the Indian High Commission in the country.

Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated PNB of about Rs 14,000 crore through issuance of fraudulent letters of undertaking. A Mumbai branch of PNB had fraudulently issued LoUs for the group of companies belonging to Modi since March 2011.

The total number of LoUs issued to the companies of Nirav Modi, his relatives and the Nirav Modi Group are 1,213, and to Mehul Choksi, his relatives and the Gitanjali Group are 377.  The CBI has filed chargesheet in this case.