Overview

• SEBI issued a recovery certificate on June 4 directing banks, depositories and mutual funds to block any debits from Choksi’s accounts and lockers.
• The Rs 2.1 crore dues comprise a Rs 1.5 crore penalty, Rs 60 lakh in interest and Rs 1,000 in recovery costs.
• Choksi was fined in January 2022 for passing unpublished price-sensitive information about Gitanjali Gems to an associate who sold his entire stake in December 2017.
• The action follows a May 15 demand notice that gave Choksi 15 days to clear the penalty or face asset seizures.
• Choksi remains in custody in Belgium as Indian authorities pursue his extradition over the PNB fraud case.