New Delhi: Fugitive Mehul Choksi has been arrested by Belgian law enforcement authorities. Choksi has been evading authorities since 2018 in connection with a multi-billion dollar Punjab National Bank (PNB) fraud case in India. This is the timeline of the incident that led to the arrest of Choksi.
Mehul Choksi fled India in 2018, initially heading to the United States before settling in Antigua. A year ago, he obtained Antigua nationality in 2017. Choksi’s nephew Nirav Modi was arrested by Metropolitan Police in London in May 2019. Although he used all legal avenues to extradite him, he was arrested in the UK.
In March 2023, Interpol revoked a red notice against Mehul Choksi. In 2024, Choksi and his wife moved to Belgium from Antigua.
Antiguan Media’s report shows that Mehul and Preeti Choksi are considering settling in Geneva. Earlier this year, Choksi’s legal counsel informed a special court in Mumbai that he is currently receiving treatment for blood cancer in Antwerp, Belgium.
Two weeks ago, Mehul Choksi and his wife Preeti received an F-residential card in Belgium. Belgian citizen Preeti, like Choksi’s extended family, has family relationships in the country. Meanwhile, Choksi was arrested in Belgium on Saturday after local authorities confirmed his presence in the country, according to sources. Sources further pointed out that preparations are being made for extradition to India.
However, Choksi is currently preparing for the legal battle. His defense team plans to be released on bail, claiming it will oppose his extradition.
The legal team noted that Choksi had strong reasons to challenge extradition requests, citing his health status and other arguments. Choksi allegedly condoned the fraudulent commitments and foreign letters of credit from PNB between 2014 and 2017, resulting in illegal losses of the rupee. 609763 million to PNB. He also borrowed a loan from ICICI Bank and also defaulted on the loan.
During the investigation, ED searched 136 locations across India and seized valuables/jewels worth Rs. Rs 597.75 crore, related to Mehul Choksi’s Gitanjali group. In addition, real estate/movable assets value Rs. 1968.15 million Mehul Choksi/Gitanjali Group is attached, including real estate, vehicles, bank accounts, factories, stocks of listed companies and jewelry in India and overseas. Total assets total. In this case, 256.59 billion were attached or seized, and three complaints were filed.
