Mehul Choksi Arrested in Belgium, India Pursues Extradition in Fraud

Mehul Choksi Arrested in Belgium Amid India’s Extradition Pursuit

Mehul Choksi, the fugitive businessman from India and key figure in the Punjab National Bank (PNB) ₹13,000 crore fraud case has arrested in Belgium as a result of the extradition request from Indian authorities. Of course, this is a great step forward in efforts by India toward making a case against Choksi after much-dragged legal and diplomatic interventions.

Ex-Gitanjali Gems head Mehul Choksi flew to India in early 2018 just before the massive banking scam came to light. He fled with taking citizenship in Antigua and Barbuda through its Citizenship by Investment program. In 2021, he was caught in the Dominican Republic on the illegal entry charge, but court proceedings got him back to Antigua. Choksi recently shifted to Belgium, apparently for medical treatment, and was with his wife, Preeti Choksi, residing in Antwerp.   

The entire fraud by PNB, based on Letters of Undertaking, is considered one of the largest scams in the history of Indian banking. Choksi, along with Nirav Modi, his nephew, has been accused of defrauding a value of more than ₹13,000 crore from PNB. Indian investigating agencies, i.e., CBI and ED, had been probing Choksi and building a case based on testimonies and documents of key people like Vipul Chitalia-banking head of Choksi’s Gitanjali Group; the group’s finance team member, late Deepak Kulkarni; and Gokulnath Shetty, the former Chief Manager at PNB. 

Choksi’s arrest in Belgium bears cheerful ray into various hands, among them being Hariprasad SV-who acted as the whistleblower exposing the PNB scam by saying that he is cautiously optimistic about Choksi’s extradition but also pointed out the concerns that Choksi could have access to the best legal support in Europe that could hinder the extradition.

Choksi’s extradition is implied by the already existing treaty between India and Belgium. However, there would be a lengthy legal battle owing to the very reason that Choksi’s lawyers are expected to challenge the extradition due to health grounds-alleging that he is undergoing treatment for cancer. Indian officials countered the argument by saying that if Choksi was capable of flying to Belgium for medical treatment, he would be able to fly back to India, where proper treatment is available.

The arrest in Belgium of Mehul Choksi represents possibly the most critical moment in India’s effort to seek justice in the PNB fraud case. While obstacles lie in the way of the extradition process, Indian officials have made no secret of their determination to bring Choksi back to face trial and recover lost money.

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On his arrest by the Belgian authorities, Mehul Choksi has turned a new leaf in the Indian efforts to bring fugitives to justice for their participation in major financial frauds upon extraction from Belgium. His appearance before courts as one of the accused in the ₹13,000 crore PNB scam is, hence, an important public measure both for legal accountability and restoring public trust in the banking system. That said, Indian authorities must remain resolute in their quest for Choksi, notwithstanding potential legal roadblocks regarding issues of health and envisaged access to illustrious high-profile legal clout. The outcome of this extradition procedure will provide a precedent in such cases and will highlight India’s position regarding global financial crimes, cooperation in extradition, and commitment to the rule of law.

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