CategoriesMehul Choksi remains a wanted figure in India due to his alleged role in the massive ₹13,500-crore bank loan fraud, a case that has shaken the country’s financial sector and continues to attract national attention.
In a major breakthrough in the Punjab National Bank (PNB) loan fraud case, fugitive businessman Mehul Choksi has been arrested in Belgium. The arrest comes following a formal extradition request from Indian authorities.
Choksi, who had been on the run for years, was reportedly residing in Antwerp with his wife, Preeti Choksi. Recent media reports confirmed that he had obtained a residency card in Belgium, enabling him to live there legally.
The development marks a significant step in India’s efforts to bring back economic offenders and hold them accountable. Choksi, a key accused in the ₹13,500 crore PNB fraud case, had earlier fled the country in 2018.
Indian officials are now working closely with Belgian authorities to expedite the extradition process and ensure Choksi is brought back to face legal proceedings in India.
Indian Agencies Move for Fugitive Jeweller’s Extradition from Belgium After Interpol Red Notice Withdrawal
In a significant development, Indian authorities have initiated fresh steps to extradite a fugitive jeweller from Belgium. According to news agency PTI, the action was taken on Saturday, following the deletion of the Interpol Red Notice that had previously been issued for his arrest.
Sources indicate that the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are now actively pursuing the extradition process. The move underscores India’s continued efforts to bring back economic offenders and fugitives facing legal proceedings in connection with major financial crimes.
Who is Mehul Choksi and Why is India Seeking His Extradition?
Fugitive diamantaire Mehul Choksi, founder of Gitanjali Gems, is a key accused in the high-profile Punjab National Bank (PNB) fraud case, involving an alleged scam of over ₹13,500 crore. Indian authorities have been actively pursuing his extradition and, according to a March report by Associated Times, a media outlet focusing on the Caribbean region, India has formally requested Belgian authorities to initiate his extradition.
Choksi, who previously held citizenship in Antigua and Barbuda, fled India in 2018 after the PNB scam came to light. He later obtained residency in Belgium on November 15, 2023, where he is currently believed to be residing.
India’s pursuit of Mehul Choksi is part of a broader effort to bring economic offenders to justice and recover the massive losses incurred by the banking system.
Fugitive diamantaire Mehul Choksi, whose wife Preeti Choksi is a Belgian citizen, has come under renewed scrutiny following a report by The Associated Times. According to the report, Choksi managed to obtain an ‘F Residency Card’ in Belgium—allowing him to reside in the country—by allegedly submitting misleading and fabricated documents. Authorities claim the application included false declarations and forged paperwork, all in a reported attempt to secure Belgian residency and avoid extradition to India.
Fresh allegations have emerged against fugitive businessman Mehul Choksi, suggesting that he failed to disclose his Indian and Antiguan citizenships during a crucial application process. Reports indicate that Choksi allegedly misrepresented his nationality, further complicating his ongoing legal troubles.
According to sources cited in recent reports, Choksi had been making plans to relocate to Switzerland, purportedly to seek treatment at a renowned cancer hospital. Interestingly, earlier in February, his lawyer informed a Mumbai court that Choksi was undergoing medical treatment for suspected cancer in Belgium.
Mehul Choksi, in connection with his nephew Nirav Modi, stands accused of orchestrating one of India’s biggest financial scams involving the state-run Punjab National Bank (PNB). The duo allegedly obtained fraudulent Letters of Undertaking (LoUs), resulting in a massive financial fraud that shook the nation.
While Nirav Modi continues to be incarcerated in the United Kingdom and has faced multiple bail rejections, he is actively contesting his extradition to India. Meanwhile, Mehul Choksi made international headlines in May 2021 after mysteriously disappearing from Antigua, only to be later traced and returned.
In Mumbai, a special court under the Prevention of Money Laundering Act (PMLA) is currently hearing the Enforcement Directorate’s (ED) long-pending plea to declare Mehul Choksi a Fugitive Economic Offender (FEO). If granted, this status would empower the Indian government to confiscate Choksi’s assets under the Fugitive Economic Offenders Act.
Notably, Nirav Modi was officially declared a fugitive economic offender back in 2019. However, the ED’s case against Mehul Choksi has remained pending since 2018, prolonging legal proceedings in the high-profile fraud case.
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