Choksi's Gitanjali Gems to contribute â¹8,000 cr in bad loans
Loans worth â¹8,000 crore given to Mehul Choksi-promoted Gitanjali Gems have turned bad during the March quarter, according to reports. There was no servicing of debt in the quarter, so it had to be declared a Non-Performing Asset (NPA) by all banks in the consortium, reports added. Choksi and his nephew Nirav Modi allegedly defrauded PNB of over â¹13,600 crore.