Santosh Srivastava, former Managing Director of Gitanjali Gems, has welcomed the arrest of fugitive diamond merchant Mehul Choksi in Belgium and called on the Indian government to expedite his extradition and ensure full recovery of the defrauded funds.
“It’s great news that Mehul Choksi has been arrested in Belgium. As a whistle-blower in this case who risked my life to expose it, I hope the government brings him back to the country at the earliest. Every bit of the money involved should be recovered,” Srivastava told ANI on Monday.
Choksi, wanted for his role in the ₹13,850 crore Punjab National Bank (PNB) fraud, was apprehended on Saturday after Belgian authorities confirmed his presence in the country. Efforts are currently underway to facilitate his extradition to India.
However, Choksi is preparing to mount a legal defence. His lawyer, Vijay Aggarwal, announced plans to appeal for his release from custody, citing ill health and ongoing cancer treatment. “The primary ground for our plea will be his medical condition. He is not a flight risk,” Aggarwal said.
Despite the arrest, experts and whistle-blowers remain cautious. Hariprasad SV, another key figure who helped expose the scam, warned that extradition would not be easy. “Choksi has deep pockets and will hire the best lawyers in Europe to avoid extradition, much like Vijay Mallya. It’s going to be a tough fight,” he said.
Choksi fled India in early 2018, shortly before the scam surfaced, and acquired Antiguan citizenship. He has since faced multiple legal battles in various countries. Alongside his nephew Nirav Modi, he stands accused of orchestrating one of India’s biggest bank frauds by fraudulently securing Letters of Undertaking from PNB between 2014 and 2017.
As Choksi’s legal team prepares to fight extradition, Indian authorities remain firm on bringing him back to face justice and recover the public money lost in the massive financial scandal.