Mehul Choksi Detained in Belgium Following India's Extradition Request
Click to start listening
Synopsis
Mehul Choksi, a fugitive diamantaire implicated in the Punjab National Bank fraud, has been arrested in Belgium. His apprehension follows India's extradition request, as he faces significant legal challenges related to the case. Choksi's detention marks a critical step in the ongoing efforts to address the financial scandal.
Key Takeaways
- Mehul Choksi arrested in Belgium.
- Wanted for PNB loan fraud.
- Reportedly seeking bail due to health issues.
- Allegations involve Rs 13,850 crore fraud.
- Legal challenges may delay extradition to India.
New Delhi, April 14 (NationPress) Fugitive diamantaire Mehul Choksi, who is sought in relation to the Punjab National Bank (PNB) loan fraud case, has been detained by Belgian authorities, as reported by sources within the CBI. This action came about following a formal request from India for his extradition.
The 65-year-old businessman was reportedly taken into custody on Saturday, April 12. He has been residing in Antwerp, Belgium, with his spouse, Preeti Choksi, after acquiring a residency card there.
Choksi is expected to apply for bail, citing health issues among other factors.
Both Choksi and his nephew, Nirav Modi, are being pursued by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for their alleged involvement in defrauding the PNB of Rs 13,850 crore.
They reportedly utilized letters of undertaking (LoUs) and foreign letters of credit (FLCs), bribing officials at the bank's Brady House branch in Mumbai. The CBI has lodged cases against Choksi, Modi, their companies, bank officials, and others, charging them with conspiracy, cheating, and corruption.
Choksi and Nirav Modi fled India in January 2018, just weeks prior to the revelation of the PNB scam.
Reports indicate that Choksi has been living in Antwerp with his wife, a Belgian citizen. Originally from Antigua and Barbuda, he reportedly departed the island for medical care. In 2021, he disappeared from Antigua but was later located in the Caribbean nation of Dominica.
Choksi is the founder of Gitanjali Gems.
Nirav Modi remains incarcerated in the UK, contesting extradition proceedings initiated by Indian authorities. He was declared a fugitive economic offender (FEO) in 2019, while the ED's efforts against Mehul Choksi have been ongoing since 2018.
Sources revealed that Choksi's arrest was prompted by Indian agencies reactivating extradition requests following the removal of the Interpol Red Notice against him.
Despite the deletion, the ED and CBI pursued a new request, which ultimately resulted in his apprehension in Belgium.
Efforts are underway to expedite his return to India, though legal challenges in Belgian courts may prolong the process.
Official verification of Choksi's arrest is pending, along with additional details.
