Mehul Choksi Must Return Looted Money: Centre Reacts to Fugitive’s Arrest in Belgium
Fugitive diamond businessman Mehul Choksi, wanted in the ₹13,500 crore Punjab National Bank (PNB) loan scam, has been arrested in Belgium, according to multiple media reports.
New Delhi: Fugitive diamond businessman Mehul Choksi, wanted in the ₹13,500 crore Punjab National Bank (PNB) loan scam, has been arrested in Belgium, according to multiple media reports. Choksi, who had fled India in 2018, was residing in Antwerp with his wife Preeti Choksi and is known to hold citizenship in Antigua and Barbuda.
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The arrest reportedly took place on Saturday, following a request from Indian investigative agencies, including the Central Bureau of Investigation (CBI).
Centre Reacts: “Big Victory for India,” Says Minister
Reacting to the arrest, Union Minister Pankaj Chaudhary hailed the development as a major success for India. Speaking to ANI, he said:
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“This is a big win for India. Prime Minister Narendra Modi had promised to bring back those who looted public money and fled abroad. Mehul Choksi’s arrest proves that commitment.”
He further emphasized that the government is actively pursuing fugitives who have defrauded the country’s financial institutions, stating, “We are taking action against many such individuals.”
CBI Continues Efforts for Extradition
The CBI and other central agencies have been working diligently to bring Choksi back to India to face trial. His arrest in Belgium was reportedly based on two arrest warrants issued by a Mumbai court. India is expected to initiate formal extradition proceedings in the coming days.
Background: PNB Scam and Choksi’s Flight
Mehul Choksi is one of the prime accused in the infamous Punjab National Bank fraud case, involving fraudulent transactions amounting to ₹13,500 crore. Along with his nephew Nirav Modi, Choksi is accused of orchestrating the scam through fake Letters of Undertaking (LoUs).
Following the exposure of the scam, Choksi fled India and acquired Antiguan citizenship, avoiding arrest despite repeated efforts by Indian authorities.
What’s Next?
With his arrest now confirmed, the focus shifts to the legal and diplomatic process of bringing Choksi back to India. If extradited, he will face prosecution under multiple charges including fraud, money laundering, and criminal conspiracy.
