Mehul Choksi Arrested In Belgium As India Seeks His Extradition In PNB Loan Fraud Case

Last Updated:April 14, 2025, 12:10 IST

The fugitive diamantaire is wanted in connection with the infamous Rs 13,500 crore loan fraud

Fugitive Indian businessman Mehul Choksi. (File photo/AFP)

Fugitive businessman Mehul Choksi, who has been on the run from Indian authorities after his alleged massive financial scam, was arrested in Belgium on Sunday.

Choksi was reportedly living in Belgium’s Antwerp with his wife, Preeti Choksi, who is a Belgian citizen, after securing an ‘F Residency Card’ in the country. The fugitive diamantaire, who is wanted in connection with the infamous Punjab Bank (PNB) fraud case, was granted residency in Belgium on November 15, 2023.

Mehul Choksi: All About The Fugitive Businessman Wanted By India And His Alleged Financial Crimes

Citing officials, news agency PTI reported that Choksi has been arrested in Belgium on India’s extradition request for his role in PNB bank loan ‘fraud’ case.

The Central Bureau of Investigation (CBI) requested has Choksi’s extradition from Belgium after he was located in the country, in March 2025. His arrest was based on this request, supported by two non-bailable warrants issued by a Mumbai court on May 23, 2018, and June 15, 2021.

Meanwhile, Choksi’s legal defense team is planning to move bail and said they will challenge the extradition.

CNN-News18 sources had earlier said that Indian authorities have requested the Belgian government for Choksi’s extradition. However, his newly acquired Belgian residency complicates matters, granting him the freedom to travel between European countries and hindering efforts to bring him back to face trial in India.

Choksi’s fraudulent activities, which include a massive financial scam, have led to him being declared a Fugitive Economic Offender (FEO) by the government of India.

Choksi and his nephew, Nirav Modi, have been accused of defrauding the PNB of over Rs 14,000 crore, one of the biggest scams in the history of Indian banking.

In 2022, the Enforcement Directorate (ED) had filed its third charge sheet against Choksi, his wife Priti Choksi and others over their alleged involvement in the Rs 13,500 crore loan fraud.

ED alleged that Choksi, his firm Gitanjali Gems and others “committed the offence of cheating against Punjab Bank in connivance with certain bank officials by fraudulently getting the LOUs (letters of undertaking) issued and got the FLCs (foreign letter of credit) enhanced without following prescribed procedure and caused a wrongful loss to the bank." The ED has filed three charge sheets against Choksi till now. The CBI too has filed similar charge sheets against him.

Brussels, Belgium

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