Fugitive Businessman Mehul Choksi Arrested in Belgium After India's Extradition Request

Fugitive Diamantaire Mehul Choksi, one of the two key accused in the Rs 13,500-crore Punjab National Bank scam case, has reportedly been arrested by in Belgium at the request of Central Bureau of Investigation (CBI). The move came after the extradition request was made by India. 

The 65-year-old businessman, who was on the run, was taken into custody on Saturday following an extradition request from the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI). Choksi is now lodged in jail while legal proceedings are underway.

The Belgian police have reportedly acted on two open-ended arrest warrants issued by a Mumbai court, one dated May 23, 2018, and the other on June 15, 2021.

Mehul Choksi, who holds citizenship in Antigua and Barbuda, had been living in Antwerp along with his wife, Preeti Choksi. He left the Caribbean nation under the pretext of seeking medical treatment, according to earlier reports

Choksi Arrested While Trying to Escape: Sources

Sources revealed that fugitive businessman Mehul Choksi was arrested by Belgian police on April 12 while allegedly attempting to escape to Switzerland. Choksi had traveled to Belgium under the pretext of seeking cancer treatment.

Acting on inputs from the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), the Belgian counterparts swiftly moved to detain him. India also shared all relevant documents confirming Choksi’s status as a wanted accused in the Punjab National Bank (PNB) fraud case. Choksi had fled India in 2018 and settled in Antigua, where he had already secured citizenship a year earlier. This isn’t the first time he’s faced arrest abroad, in 2021, he was detained in Dominica, but was released after spending 51 days in custody.

PNB Scam whistle-blower Hariprasad SV EXCLUSIVE

“It's a great news for India. The government should get him back and he must face the law of the land. The victims should get their money back,” PNB scam whistle-blower Hariprasad SV told Republic. Watch what he said: 

Welcoming the arrest, Hariprasad emphasised that the recovery of the looted money is as important as extraditing Choksi from the foreign land. He warned that extradition won’t be easy citing Choksi’s legal resources in Europe. Drawing parallels with Vijay Mallya ’s ongoing legal battle in the US, the whistle-blower also anticipated that Choksi too will employ top lawyers to delay his extradition.

Most Wanted Mehul Choksi: Charges Against Him

Mehul Choksi, the fugitive Indian businessman is one of the key accused in one the biggest banking scams of India’s history. Along with his nephew, Nirav Modi, Choksi is accused of defrauding Punjab National Bank (PNB) of over Rs 13,500 crore. The scam came to light in 2018, shortly after both Choksi and Modi fled the country. That same year, a special PMLA court issued non-bailable arrest warrants against them. Since then, investigative agencies have filed multiple cases and seized assets worth several thousand crores linked to Choksi. Efforts to extradite him to India are still ongoing.

Auction of His Assets

A Special CBI Court in Mumbai in February has cleared the way for the auction of unsecured properties owned by Gitanjali Gems Limited, the company linked to fugitive diamantaire Mehul Choksi, the prime accused in the multi-crore Punjab National Bank (PNB) loan fraud case. The decision came after liquidator Shantanu Ray, appointed by the Committee of Creditors and confirmed by the NCLT, filed an application under the Prevention of Money Laundering Act (PMLA). On the plea, the Special Judge emphasised the need for urgent action. He highlighted the risk of property value diminishing if left unmaintained for long. The court has now authorized the valuation and auction of several properties located in Mumbai and Surat, including multiple flats, office spaces, and commercial units. The liquidator will oversee the auction process in coordination with the Enforcement Directorate (ED), ensuring compliance with all legal protocols.