Fugitive diamond tycoon Mehul Choksi was arrested in Belgium by local law enforcement on Saturday, acting on a request from India’s Central Bureau of Investigation (CBI), according to official sources. The arrest marks a major development in the multi-crore Punjab National Bank (PNB) fraud case in which Choksi is a key accused.
Authorities in Belgium confirmed Choksi’s presence before detaining him. Efforts are now underway to secure his extradition to India. However, Choksi is preparing for a legal battle, with his legal team expected to seek bail and contest the extradition on health grounds and other legal arguments.
The 65-year-old businessman, who fled India on January 2, 2018, is accused of orchestrating a Rs 13,850 crore fraud involving fraudulent Letters of Undertaking and Foreign Letters of Credit issued by PNB between 2014 and 2017. His nephew, Nirav Modi, who is also implicated in the case, is currently jailed in the UK after exhausting his legal options against extradition.
Before fleeing India, Choksi acquired Antiguan citizenship in 2017. He was arrested in Dominica in 2021 under controversial circumstances but was deported back to Antigua instead of being extradited to India. He later relocated to Belgium in 2024, reportedly for cancer treatment. Choksi and his wife Preeti, a Belgian citizen, recently obtained F Residency Cards in Belgium.
The Enforcement Directorate (ED) has seized and attached assets worth Rs 2,565.90 crore linked to Choksi and his Gitanjali Group across India and overseas. This includes jewellery, bank accounts, vehicles, shares, and properties.
Despite the Interpol Red Notice against him being revoked in 2023, Choksi’s arrest in Belgium may pave the way for renewed extradition proceedings, reigniting hopes for his return to face trial in India.
