PNB fraud case | Court rejects Mehul Choksi’s application to intervene in release of mortgaged properties

A special court on Wednesday rejected an application filed by the absconding diamond merchant Mehul Choksi, who had sought to intervene in an application filed by ICICI Bank for releasing mortgaged properties in connection with the Punjab National Bank alleged fraud case. ICICI Bank had, earlier this year sought release or the properties worth Rs 636 crores.

The court said that these were not Choksi’s personal properties but were owned by several companies. The court said that hence Choksi had no locus standi and cannot be allowed to have a say in response to the bank’s plea.

A rejoinder was also filed by Choksi’s wife Preeti on a a separate plea claiming that Enforcement Directorate (ED) cannot claim that she has not responded to the summons sent to her. She said the agency sent the summons to an address in Mumbai despite knowing she was not available there anymore, and hence it cannot be said that she has been served summons. The couple is in Antigua.