Diamantaire to Fugitive: Mehul Choksi Arrested in Belgium—Unveiling the Charges He Faces in India

Diamantaire to Fugitive: Fugitive diamond trader Mehul Choksi has been arrested in Belgium at India’s request for extradition over his alleged involvement in the ₹13,500 crore Punjab National Bank (PNB) loan fraud case.

Choksi was said to be living in Antwerp with his wife, Preeti Choksi, after securing a ‘F residency card’ in Belgium. In February, his lawyer informed a special court in Mumbai that Choksi is believed to be undergoing cancer treatment in Belgium.

His arrest was triggered after Indian agencies reactivated extradition requests following the removal of the Interpol Red Corner Notice against him. Despite that setback, the ED and CBI pursued a renewed request, which ultimately led to his capture in Belgium.

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While Indian authorities are now working to bring him back to face trial, the extradition may be a prolonged process. Sources confirmed that Choksi is likely to pursue all available legal remedies in Belgian courts to resist deportation, and is expected to soon file for bail on medical grounds. He is also likely to raise the allegation of a past "kidnapping attempt" by Indian operatives in Antigua as part of his legal defence.

Despite these expected challenges, Indian agencies are hopeful that even if Choksi is granted bail, he will not be allowed to return to Antigua. India is also exploring deportation as a possible alternative route to bring him back.

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Choksi is accused of defrauding Punjab National Bank of over Rs 6,095 crore through a massive banking scam involving the fraudulent issuance of Letters of Undertaking (LOUs) and the manipulation of Foreign Letters of Credit (FLCs).

Choksi is being prosecuted under the Prevention of Money Laundering Act, along with various provisions related to cheating, criminal conspiracy under the Indian Penal Code, and sections of the Prevention of Corruption Act.

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