Last month Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year and levied a fine totalling Rs 2.5 crore on them for violating insider trading rules in the matter of Gitanjali Gems. BCCL Choksi, promoter and managing director of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-run Punjab National Bank (PNB) of over Rs 14,000 crore. Both Choksi and Modi fled India after the PNB scam came to light in early 2018.