Fugitive businessman Mehul Choksi, accused of defrauding the Punjab National Bank (PNB) of ₹13,850 crore, has been arrested in Belgium, marking a significant step in India’s efforts to bring him to justice. The 65-year-old former diamond merchant, who fled India in 2018, was apprehended by Belgian authorities on Saturday after confirming his presence in the country.
Santosh Srivastava, former Managing Director of Gitanjali Gems and a whistle-blower in the PNB fraud case, expressed his relief over Choksi’s arrest, urging the Indian government to expedite his extradition.
“It’s great news that Mehul Choksi has been arrested in Belgium. As a whistle-blower in this case, who risked my life to expose it, I hope the government brings him back soon. Every bit of the money involved should be recovered,” Srivastava said to ANI.
Choksi, along with his nephew Nirav Modi, is accused of orchestrating one of India’s largest banking frauds using fraudulent Letters of Undertaking to siphon off funds from PNB. After fleeing to the United States, he eventually found refuge in Antigua before being detained in Belgium.
Despite the arrest, Choksi’s legal team, led by lawyer Vijay Aggarwal, has already initiated a battle for his release. Aggarwal confirmed that an appeal will be filed, citing Choksi’s ill health, including ongoing cancer treatment, as a reason for his bail.
“My client, Mehul Choksi, has been arrested in Belgium and is in custody. We will file an appeal against this arrest, requesting that he be released due to his health condition,” said Aggarwal.
Extradition Process to India:
India’s law enforcement agencies, including the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), are closely monitoring the developments. They aim to initiate the extradition process to bring Choksi back to face charges. However, Hariprasad SV, a whistle-blower in the PNB scam, expressed doubts about the ease of extradition, given Choksi’s financial resources.
“Extradition is not easy. Choksi has the financial means to employ the best lawyers in Europe to delay the process, much like Vijay Mallya did. It won’t be an easy task for India to bring him back,” Hariprasad noted.
With Choksi’s extradition now a major focus, Indian authorities are working with their Belgian counterparts to ensure that the fugitive faces justice in India.
