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Updated April 18th 2025, 15:29 IST

Calcutta HC Forms 3-Member Panel For Rehabilitation Of Displaced People In Violence-Affected Murshidabad | LIVE

Days after fugitive businessman Mehul Choksi was arrested in Belgium, the Central Bureau of Investigation (CBI) has moved a Mumbai court seeking a Non-Bailable Warrant (NBW) against him in a separate bank fraud case. Choksi, along with others, is accused of cheating a consortium led by Canara Bank to the tune of ₹55.27 crore.

Reported by: Navya Dubey
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Calcutta HC Sets Up 3-Member Panel for Rehab in Murshidabad Violence
Calcutta HC Sets Up 3-Member Panel for Rehab in Murshidabad Violence | Image: PTI

On April 12, Mehul Choksi, a key accused in the multi-crore Punjab National Bank (PNB) scam, was arrested in Belgium following an extradition request from Indian authorities. Just five days later, on April 17, the Central Bureau of Investigation (CBI) approached a special court in Mumbai seeking a Non-Bailable Warrant (NBW) against him in a separate case involving alleged cheating of ₹55.27 crore from a Canara Bank-led consortium.

However, Special CBI Judge V P Desai ruled that his court did not have jurisdiction over the matter since the chargesheet did not name any public servants—a requirement under the Prevention of Corruption (PC) Act. As a result, the case was transferred to a magistrate’s court for further proceedings.

According to the CBI, Choksi’s firm, Bezel Jewellery, secured loans from Canara Bank and Bank of Maharashtra under a consortium agreement but diverted the funds without conducting actual business transactions, causing significant financial losses.

The NBW application will now be heard by the Additional Metropolitan Magistrate. Choksi, along with his nephew Nirav Modi, remains a central figure in the ₹13,500 crore PNB fraud case. Modi is currently lodged in a London jail, where he has been held since 2019.
 

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According to the CBI, Mehul Choksi’s company, Bezel Jewellery, took loans from Canara Bank and Bank of Maharashtra under a joint agreement. But instead of using the money for business, the company allegedly diverted the funds, causing heavy losses to the banks.

The request for a Non-Bailable Warrant will now be handled by the Additional Metropolitan Magistrate. Choksi, along with his nephew Nirav Modi, is also a main accused in the ₹13,500 crore Punjab National Bank (PNB) scam. Nirav Modi has been in a London jail since 2019. 
 
 


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Published April 18th 2025, 08:37 IST