CBI Chargesheets Former Auditor, 3 Gitanjali Gems Executives In Mehul Choksi-Linked PNB Fraud Case
· Free Press Journal
Mumbai, July 29, 2026: Almost eight years after the CBI lodged a cheating case against Mehul Choksi, it has filed a chargesheet against the then Internal Chief Auditor of Punjab National Bank (PNB), Mid Corporate Branch (MCB), Brady House, and two senior executives of Choksi's company.
CBI Files Chargesheet
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Special CBI Judge S.K. Karhale on Wednesday took cognisance of the chargesheet filed by the CBI against Bishnubrata Mishra, the then Internal Chief Auditor, PNB, MCB, Brady House; Jayesh Shah, a partner in 4 C's Diamond Distributors HK; Ajit Bheda, Manager, Gitanjali Gems, Mumbai, looking after imports and exports; and Deepen Shah, Senior Vice President, Gitanjali Gems, Hyderabad.
The CBI has claimed that the accused hatched a criminal conspiracy and got 118 fraudulent Letters of Undertaking (LOUs) issued in favour of overseas banks on behalf of M/s Gili India Ltd. and M/s Gitanjali Exports Corporation Ltd., despite the companies not enjoying any sanctioned credit limit from PNB. Subsequently, Gitanjali Exports Corporation Ltd. was merged with M/s Gitanjali Gems Ltd.
During 2016, the accused allegedly got 116 fraudulent LOUs issued on behalf of M/s Asmi Jewellery India Ltd., M/s Gili India Ltd., M/s Gitanjali Exports Corporation Ltd. and M/s Nakshatra Brands Ltd. without any sanctioned limit, without maintaining the mandatory 110 per cent cash margin, and without entering the transactions into the bank's Core Banking System (CBS), thereby availing buyers' credit from overseas banks.
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Accepting that a prima facie case was made out against the accused, the court observed: "Acts on the part of the accused, prima facie show that they, in conspiracy with the charge-sheeted accused persons, facilitated the issuance of fraudulent LOUs and fraudulent amendments under FLCs on behalf of three accused companies and misutilisation of the bank's funds."
The court has issued process against the accused and served notices on them.
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