Years
Fugitive diamond businessman Mehul Choksi, accused of involvement in a loan fraud case of Rs 13,000 crore in Punjab National Bank (PNB), was arrested in Belgium after extradition request of Indian investigative agencies.
On the arrest of fugitive Mehul Choksi, Foreign Ministry spokesman Randhir Jaiswal said that he has been arrested on the basis of our extradition request. We are working closely with the Belgian side on his extradition. Jaiswal said on Thursday that he was arrested on the basis of our extradition request. We are working closely with the Belgian side on his extradition. Indian jeweler Mehul Choksi, accused of involvement in India’s largest bank fraud, was arrested on 14 April in Belgium.
Fugitive diamond businessman Mehul Choksi, accused of involvement in a loan fraud case of Rs 13,000 crore in Punjab National Bank (PNB), was arrested in Belgium after extradition request of Indian investigative agencies. In this loan fraud case of Rs 13,000 crore, action was taken against the second major suspect of Choksi’s nephew and diamond businessman Nirav Modi on 12 April on the basis of extradition request of the Central Investigation Bureau (CBI) and Enforcement Directorate (ED).
Belgian’s Federal Public Justice Service confirmed in an email to ‘PTI’ that Choksi was arrested on 12 April. It is said that he has been detained for further judicial proceedings. A lawyer’s reach for legal assistance has been ensured. It was also said that Indian authorities have requested extradition for Choksi. Choksi (65) went to Belgium for medical treatment in November 2023, after which he was there. He was seen there last year.
Most of the large -scale expansion made by Mehul Choksi and his nephew Nirav Modi was funded through loans taken from Punjab National Bank (PNB). According to the CBI and ED investigation, between 2014 and 2017, instead of repaying these loans, both fraudulently received a letter of understanding (LOU) from the Brady House branch of PNB in Mumbai.
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