Endgame for Choksi? Fugitive Diamantaire Arrested in Belgium, India Pushes for Extradition
Arrested in Belgium, Choksi eyes ‘health card’ escape as Indian authorities close in on PNB scam mastermind.
BNH NETWORK
FACT FILE: Mehul Choksi's Arrest & Extradition Push
| Attribute | Details |
|---|---|
| Name | Mehul Choksi |
| Scam Amount | ₹13,000 crore (Approx. USD 1.5 Billion) |
| Location of Arrest | Belgium |
| Arrest Confirmed By | Vijay Aggarwal (Choksi’s Lawyer) |
| Indian Agencies Involved | Central Bureau of Investigation (CBI), Enforcement Directorate (ED) |
| Extradition Treaty Status | India-Belgium Treaty Signed (Since 1901) |
| Legal Strategy by Choksi | Health-based bail plea pending |
| Known Associates | Nirav Modi, Geetanjali Gems |
| Seized Properties (ED) | ₹2,565.90 crore worth attached |
| Current Status | In Belgian Custody, Awaiting Extradition Hearing |
Fugitive No More: Choksi Caught in Belgium
In a dramatic breakthrough, fugitive diamond tycoon Mehul Choksi — the prime accused in India’s ₹13,000 crore Punjab National Bank (PNB) loan fraud — has been arrested in Belgium. The arrest follows relentless efforts by Indian agencies after the cancellation of an Interpol Red Notice against him.
Legal Counters Begin: Choksi’s Health Card Play
Choksi’s lawyer Vijay Aggarwal confirmed his client’s detention and revealed that his legal team is preparing to challenge the arrest on medical grounds. The plea, citing Choksi’s ongoing cancer treatment, is seen as an attempt to delay the extradition process.
India’s Diplomatic Machine in Full Swing
Former diplomat Deepak Vohra asserted that India’s strengthened international stature leaves Choksi with few options. Citing the longstanding India-Belgium extradition treaty, Vohra expressed confidence that Choksi could be back in India “by the end of this year.”
PNB Scam: A Multi-Layered Financial Fraud
Choksi, along with his nephew Nirav Modi and associates, orchestrated one of India’s biggest banking frauds by securing fraudulent Letters of Undertaking (LoUs) from PNB without following standard banking protocols. The scam caused massive losses to Indian banks and triggered nationwide outrage.
The Money Trail: How PNB Was Robbed
Investigations show PNB officials colluded to issue 165 LoUs and 58 foreign Letters of Credit, enabling the siphoning of funds to foreign banks without internal checks. When repayment defaulted, PNB had to clear ₹6,344.97 crore in dues to these banks.
Extradition Warpath: Open-Ended Warrants Shared
Indian agencies had already submitted two “open-ended” arrest warrants against Choksi — meaning they remain valid indefinitely — to Belgian authorities, bolstering India’s claim for his immediate extradition.
The Bigger Picture: Fugitive Roundup Continues
Former UP DGP Vikram Singh underlined that Choksi’s capture is part of a larger crackdown. “There’s no escape for economic offenders anymore. Whether underground or overseas, one by one, they will all be brought back to face Indian justice.”
