NCLT orders liquidation of Mehul Choksi’s Nakshatra brand

A Mumbai court has ordered the liquidation of Nakshatra Brands, owned by fugitive diamond merchant Mehul Choksi, who is accused of defrauding banks to the tune of thousands of crores. This would be another case where the recovery is likely to be less than 5% of the total exposure, estimated at around Rs 1,500 crore. … Read more