Mehul Choksi, a fugitive businessman accused of the huge Rs 13,500 crore PNB loan fraud, was arrested last month in Belgium as India continued to press his extradition. In a setback for fugitive Indian businessman Mehul Choksi, a court in Belgium has rejected his bail application.
The 65-year-old businessman was arrested in Belgium last week and has been evading Indian authorities in connection with a Rs 13,500 crore PNB loan fraud scam. The fugitive diamond jeweller was said to have been residing in Antwerp with his wife Priti Choksi, having been given residence — F Residency Card — in Belgium in November 2023. He was arrested on April 12 from a hospital where he had been receiving treatment.
The diamantaire was detained by Belgian authorities in Antwerp after an extradition request from Indian probe agencies. A three-judge bench heard the arguments before deciding against granting bail, news agency ANI reported.
His legal defence team had intended to file a bail plea in the local court, on medical grounds. His lawyer, Vijay Aggarwal, stated the bail plea would be on the grounds of him being treated for cancer, while his team would also challenge his extradition to India on grounds of “inhuman conditions in Indian prisons”.
Earlier, the Ministry of External Affairs had informed that India is working closely with Belgium to extradite Choksi to New Delhi. It was earlier reported that a multi-agency team would visit Belgium ahead of Choksi’s bail hearing. The team could include CBI and ED officers, MEA officials and international law experts, sources said.
He was arrested on the basis of our extradition request. We are in close cooperation with the Belgium side for his extradition so that he can be put on trial here,” MEA spokesperson Randhir Jaiswal said on Thursday.
The fleeing diamantaire and his nephew Nirav Modi, in their alleged connivance, diverted Rs 13,500 crore of public funds from the state-owned Punjab National Bank (PNB) through fraudulent letters of undertaking. Nirav Modi, who is in a London prison, is fighting extradition to India following sustained refusal of his bail by courts.
