Mehul Choksi surrenders his Indian passport

Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated Punjab National Bank (PNB) of about Rs 14,000 crore through issuance of fraudulent letters of undertaking. A Mumbai branch of PNB had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.

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