Srinagar: Billionaire jeweler Mehul Choksi who is an accused in the Punjab National Bank fraud, has also defrauded the Jammu and Kashmir Bank of Rs.152 crore.
The amount had been taken as a loan from the bank for ‘Gitanjali Gems’.
Talking to the Free Press Kashmir Sajad Bazaz, Head of Corporate Communications, JK Bank said that the bank is contemplating legal action against Choksi.
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“The Chairman of JK Bank has already given a statement regarding this issue that legal action will be taken against the parties involved. This is not just our bank. Many bank have been defrauded. When we got to know about the Punjab National Bank’s case, we tallied the name of this big party with our books. And it hit! Now, whatever will be required to do individually as a bank, we will do. Rest, CBI has taken over the case. Arrests and investigations regarding the same are going on, on behalf of all the banks,” Bazaz said.
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Quoting the Chairman of the bank, a report in the Daily Excelsior said that the bank had given a loan of Rs.121 crore to Choksi for his diamond showroom ‘Gitanjali Gems’ in Mumbai in the year 2012.
Now, over a period of six years, the amount has swelled up to Rs.152 crore.
Parvez Ahmad, the Chairman of the bank told Daily Excelsior that they are contemplating legal action against Mehul Choksi like other banks, which have also been defrauded by Choksi and Nirav Modi.