Seize Choksi immovable assets of Rs 70cr, I-T body says in rare order

MUMBAI: The I-T adjudication authority has passed a confiscation order under the amended

Prohibition of Benami Property Transactions Act

on immovable properties spread over 100 acres (worth over Rs 70 crore) in Maharashtra’s Igatpuri town that belonged to fugitive diamond merchant Mehul

Choksi

.

Such an order for immovable property is unheard of and sources in the I-T department could not recall a similar one in recent years.

I-T officials will now be taking these 50 land parcels in their possession for auction. The act was amended in 2016 and the I-T department attached the properties in 2020.

Choksi is an absconding accused in the Punjab National Bank fraud case and no one turned up to challenge the I-T action. The land parcels were purchased in the name of Nashik Multi Services SEZ Ltd in Igatpuri, Nashik district, and the payment was made through Choksi’s company

Gitanjali Gems

.

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