Mumbai, May 19 -- The Securities and Exchange Board of India (SEBI) has issued a notice to fugitive diamond trader Mehul Choksi, asking him to pay Rs 2.10 crore in fines and recovery costs. SEBI has warned that if he fails to pay within 15 days, strict action such as freezing his bank accounts, seizing his property, or even arrest may follow.
The recovery notice, issued on May 15, is based on a penalty of Rs 1.5 crore imposed on Choksi in January 2022 for violations related to Gitanjali Gems Limited. With interest and other expenses, the total amount now stands at Rs 2.10 crore.
Choksi, whose last known address is at Walkeshwar in South Mumbai, has been asked to make the payment through SEBI's online portal or via bank transfer.
SEBI als...