The hearing of a case of cheating against jeweller Mehul Choksi, uncle of Nirav Modi who has fled the country after duping Punjab National bank for over Rs 11,700 crores, started at the Delhi High Court on Tuesday (February 20).

Mehul’s counsel Sandeep Kapoor said that there was no agreement between us. The low quality of stock is wrong. Because if the quality of the jewellery was poor then why was it sold?

The court asked if those who had invested millions had any other way of reducing their loss. At this

Mehul’s counsel said that the company had decided that it will not give (stock) any further to these people.

While this seemed a compromise offer, the lawyers of the “victims” said they did not want to end the case even if a compromise deal was offered.

–     India Legal Bureau