Sebi is searching for a complete restoration of Rs 5,27,13,329 from the three.
Fugitive businessman Choksi is the promoter and managing director of Gitanjali Gems, whereas Sheth is the manager director of the corporate. Choksi is the maternal uncle of diamond baron Nirav Modi, who has allegedly defrauded state-owned Punjab Nationwide Financial institution for greater than Rs 13,000 crore.
Modi has been lodged in a London jail since his arrest in March 2019, and is presently preventing extradition to India
Sebi had penalised the entities for failing to make numerous requisite disclosures.