mumbai a year after the cbi registered a fresh case against absconding diamantaire mehul choksi and four governmentauthorised valuers for inflating values of pledged diamond jewellery by around 95 while obtaining loans and thus causing a loss of rs 22 crore the to industrial finance corporation of india ltd ifci the investigating agency informed the court that it had not found the involvement of any public servants in the casewith the the charges against the prevention of corruption act dropped the special cbi court on thursday said that the case is to be remitted to the magistrates court where it will continue for offences under the indian penal code ipc it is contended that chargesheet is to be filed against the accused persons under relevant sections of law since investigation did not reveal any culpability of public servants which were punishable under various sections of the prevention of corruption act the chargesheet is to be filed before the court of esplanade being the competent court to take cognizance of offences registrar sessions of this court is hereby directed to transfer the original fir along with complaint if any to the court of additional cchief metropolitan magistrate forthwith and report the compliance the court saidthe court adjourned the matter to march 4 for submission of compliance reportthe cbi had alleged that choksi with dishonest and fraudulent intention colluded with the valuers and got valuation of the pledged jewels done with exorbitant and inflated value it was alleged that in 2016 choksi approached ifci for a rs 25 crore loan as per the rules the collateral should be worth twice the loan amount further it also came to the light that the diamonds are of low quality labprepared chemical vapour diamonds and other inferior colour stones and not real gemstones the account of ggl gitanjali gems ltd was classifled as npa from june 30 2018 thereby causing wrongful loss of rs 22 crore to ifci ltd and corresponding wrongful gain to the accused the cbi said in the fir the cbi had alleged that facts disclosed commission of offences relating to criminal conspiracy cheating and forgery for the purpose of cheating using as genuine a forged docurrent and criminal misconduct by the accused named in the case and also unknown public servants and others