Mehul Choksi Net Worth: From Rich To Rags! A Look At His Wealth And Assets

Mehul Choksi, once a prominent Indian diamond merchant, built a vast fortune through Gitanjali Gems. At its peak, his net worth was estimated at over Rs 20,000 crore, driven by a global chain of jewelry brands. 

Choksi's path from a successful jeweller to a fugitive undergoing extradition is a testament to the uncertainty of wealth in the face of legal and ethical issues.

Choksi: Networth

In December 2024, Finance Minister Nirmala Sitharaman stated that assets worth Rs 22,280 crore belonging to fugitives such as Choksi were confiscated, marking India's determination. Nevertheless, his entire net worth is elusive as investigations are ongoing.

However, his wealth crumbled after the Rs 13,500-crore Punjab National Bank (PNB) scam surfaced in 2018, implicating him and his nephew Nirav Modi in fraudulent transactions. 

The Enforcement Directorate (ED) has frozen assets valued at Rs 2,565.9 crore, and a court in Mumbai cleared their auction in 2024, considerably reducing his holdings. Today, his net worth remains uncertain, and much of his money is frozen or seized.

Also Read: From India to Belgium: How Mehul Choksi Evaded Arrest for 8 Years

Recent Arrest in Belgium

On April 12, 2025, Choksi was detained in Belgium's Antwerp, where he had been residing with his wife, Preeti after he escaped Antigua in 2023. Indian authorities, such as the Central Bureau of Investigation (CBI), sought his extradition for the PNB fraud case. 

Choksi reportedly received medical treatment for cancer, but his lawyer intends to apply for bail on grounds of health, which could hold up extradition. This development follows years of evasion, including a 2021 arrest in Dominica for illegal entry.