The Reserve Bank of India (RBI) has admitted to writing off a staggering amount of around $ 8920 mln due from 50 Top Wilful Defaulters, including absconding diamantaire Mehul Choksi, according to a reply under RTI and reported by the media.
RTI stands for ‘Right to Information’. It is a fundamental right under Article 19(1) of the Constitution. Prominent RTI activist Saket Gokhale had filed an RTI query seeking details of the 50 Top Wilful Defaulters and the status of their current loans till February 16.
The RBI's Central Public Information Officer Abhay Kumar provided the replies on Saturday (April 24), with several startling revelations in the 'diamond-studded list'.
Topping the list is Choksi's scam-hit company, Gitanjali Gems Limited which owed about $ 720.36 mln besides other group companies, Gili India Ltd. and Nakshatra Brands Ltd. which had taken loans of around $190 mln and around $ 145.46 mln respectively. Choksi is currently a citizen of Antigua & Barbados Isles, while his nephew and another absconder diamond trader Nirav Modi is in London.
Another in the list is absconding diamantaire Jatin Mehta's company Winsome Diamonds & Jewellery owing $ 534.63 mln, which is being probed by the Central Bureau of Investigation for various bank frauds.
Harish R. Mehta's Ahmedabad-based Forever Precious Jewellery & Diamonds Pvt. Ltd. $257.35 mln is another willful defaulter from the Indian gem & Jewellery industry.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
RTI stands for ‘Right to Information’. It is a fundamental right under Article 19(1) of the Constitution. Prominent RTI activist Saket Gokhale had filed an RTI query seeking details of the 50 Top Wilful Defaulters and the status of their current loans till February 16.
The RBI's Central Public Information Officer Abhay Kumar provided the replies on Saturday (April 24), with several startling revelations in the 'diamond-studded list'.
Topping the list is Choksi's scam-hit company, Gitanjali Gems Limited which owed about $ 720.36 mln besides other group companies, Gili India Ltd. and Nakshatra Brands Ltd. which had taken loans of around $190 mln and around $ 145.46 mln respectively. Choksi is currently a citizen of Antigua & Barbados Isles, while his nephew and another absconder diamond trader Nirav Modi is in London.
Another in the list is absconding diamantaire Jatin Mehta's company Winsome Diamonds & Jewellery owing $ 534.63 mln, which is being probed by the Central Bureau of Investigation for various bank frauds.
Harish R. Mehta's Ahmedabad-based Forever Precious Jewellery & Diamonds Pvt. Ltd. $257.35 mln is another willful defaulter from the Indian gem & Jewellery industry.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
