The Enforcement Directorate has transferred four Mumbai flats linked to Mehul Choksi to the liquidator of Gitanjali Gems to speed up monetisation and compensate victims of the PNB fraud. This marks a crucial shift from asset seizure to real recovery for banks and affected stakeholders.
The Supreme Court has granted bail to Hemant Bhatt, closely linked to the Punjab National Bank (PNB) fraud case involving Nirav Modi. This decision raises concerns about banking regulations and the prevention of financial fraud. The case continues to highlight challenges in India’s banking industry and the legal system’s role in addressing financial crimes.
