Dhanesh Vrajlal Sheth, managing director of three indicted companies, namely Nakshastra Brands Ltd, Gitanjali Gems Ltd., Gilli India Ltd.
Defence attorney Vijay Aggarwal requested bail because the Central Bureau of Investigation (CBI) had filed an indictment against the defendant. “… The investigation into the present case has been completed and the indictment was presented without the defendant’s arrest, which shows that Sheth did not need to be questioned while in custody,” argued Aggarwal.
The guarantee was given with a guarantee of one lakh rupees.
The federal authorities had stated in their indictment that Sheth was the permanent director of the defendant companies Gitanjali Gems Ltd., Gilli India Ltd. and Nakshatra Brands Ltd. Was part of the conspiracy. “… Overall, the directors of these three Sheth companies have dishonestly signed the balance sheet, income statement, and cash flow statement of the three companies for the period ended March 31, 2015; March 31, 2016 and March 21, 2017 that did not show any LOU used by these companies, ”is the fee sheet to which ET had access.
Last month, a supplementary indictment filed by IWC showed that the fugitive diamond dealer who was accused of defrauding the Punjab National Bank (BSP) of $ 2 billion first met “fictitious directors” in late 2017 His Hong Kong-based supplier company advising them that “they may have to deal with inquiries from the Directorate of Enforcement (ED).”
He then fled India on January 4, 2018, and in February of that year those directors were ” relocated “. to Bangkok to avoid investigation, according to the latest CBI indictment against 12 people and companies, including Choksi, Vipul Chitalia, then vice-president of banking for the Gitanjali Group and former senior PNB officials.
“In December 2017, Choksi visited Hong Kong and met with the fake directors of the Hong Kong-based supplier companies and told them there were problems in India and they might have to deal with ED inquiries,” the CBI fee sheet reads. “This shows that Choksi was already aware of the impending criminal case.”
At the Hong Kong meeting, Choksi reportedly told directors to apply for a Thailand visa as Hong Kong operations were being closed. China is said to have been charged with processing its work permits for Abbeycrest (Thailand) Ltd., Bangkok. , a company also controlled by Choksi. In January 2018, Chitalia told these executives that “Choksi directed them not to visit India because they may have problems with investigative authorities,” the indictment read.