Mumbai: The Securities and Exchange Board of India (Sebi) has ordered the attachment of the bank and demat accounts held by Mehul Choksi, Dhanesh Sheth and Gitanjali Jewels, for recovering penalty to the tune of Rs 5 crore, and interest and recovery costs.
Sebi is seeking a total recovery of Rs 5,27,13,329 from the three.
Fugitive businessman Choksi is the promoter and managing director of Gitanjali Gems, while Sheth is the executive director of the company. Choksi is the maternal uncle of diamond baron Nirav Modi, who has allegedly defrauded state-owned Punjab National Bank for more than Rs 13,000 crore.
Modi has been lodged in a London prison since his arrest in March 2019, and is currently fighting extradition to India
Sebi had penalised the entities for failing to make various requisite disclosures.