NCLT orders liquidation of Mehul Choksi's Nakshatra World

The Mumbai Bench of the National Company Law Tribunal (NCLT) has ordered the liquidation of Nakshatra World, a subsidiary of Gitanjali Gems, one of the group companies promoted by fugitive businessman Mehul Choksi. The ruling came on an insolvency petition ICICI Bank filed around two years ago against the company, which was also allegedly involved in a money laundering case reported at the Punjab National Bank.