India, Nov. 9 -- In a key development in the Rs.23,000 crore Punjab National Bank (PNB) fraud case, a special court in Mumbai has permitted Gitanjali Gems Ltd, the company at the centre of the scam, to value and auction 13 unsecured properties linked to fugitive diamantaire Mehul Choksi.

According to the court's order dated November 4, the auction proceeds, estimated at around Rs.46 crore, will be kept as a fixed deposit in the name of the special court until the trial concludes.

What will be auctioned?

The assets include:

The court clarified that only unsecured assets, not those claimed by secured creditors, can be sold.

It also emphasised that ownership and confiscation of proceeds will be decided only after the conclusion of the o...