Can repay bank loans with my trade receivables: Mehul Choksi

Diamantaire Mehul Choksi, a key accused in the 2 billion US Dollars PNB fraud, claimed today that his company Gitanjali Gems has "trade receivables" of over Rs 8,000 crore, enough to repay his loans. The absconding diamantaire made the claim in a plea filed before the special judge for Prevention of Money Laundering Act cases, V C Barde.

The plea sought a direction to the Enforcement Directorate (ED) to "secure" all assets of Choksi and his firms, including the trade receivables that have not been attached until now. The ED has not yet attached the number of his



assets, including trade receivables of Rs 8,567 crore as shown in the consolidated balance sheet of March 2017 of Gitanjali Gems, the application read. Choksi was not able to recover this money as his entire business was closed down after a case was registered against him and others, it said.

In another application, Choksi urged the court to direct the ED to interrogate him in Antigua, where is living at present. The court asked the investigating agency to file its reply to all these pleas by October 10.