Fugitive diamond trader Mehul Choksi, a key figure in India’s ₹13,500 crore Punjab National Bank (PNB) fraud, was arrested by Belgian authorities over the weekend. He was reportedly attempting to flee to Switzerland under the pretext of seeking medical treatment. This arrest marks a significant development in the seven-year-long international pursuit led by Indian agencies.​

Background and Arrest Details

Choksi, the owner of the Gitanjali Group, fled India in 2018, shortly before the PNB fraud case came to light. He acquired Antiguan citizenship, complicating India’s extradition efforts. Indian agencies, including the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED), had been tracking his movements across the globe. Upon discovering his presence in Belgium, they coordinated with local authorities, leading to his arrest in Antwerp.​

Belgium’s Foreign Ministry confirmed Choksi’s presence in the country and acknowledged the extradition request from India. The Belgian authorities have expressed their commitment to addressing the case with the seriousness it warrants. ​
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Efforts to Evade Extradition

Choksi had been residing in Belgium with his wife, Preeti Choksi, who holds Belgian nationality. In November 2023, he obtained an ‘F Residency Card’ by allegedly submitting forged documents and concealing his dual citizenship status. Reports indicate that he was planning to travel to Switzerland for cancer treatment at the Hirslanden Klinik Aarau, potentially to use medical grounds to resist extradition. ​

Indian agencies acted swiftly upon learning of his intentions, coordinating with Belgian authorities to prevent his departure. The Belgian police arrested Choksi based on non-bailable warrants issued by a Mumbai court in 2018 and 2021. ​

Extradition Process and Legal Proceedings

Following his arrest, Choksi’s legal team has filed for bail, citing health concerns. However, Indian agencies, including the CBI and ED, are opposing his release and are actively pursuing his extradition to face charges related to the PNB scam. The extradition process is expected to involve legal proceedings in both Belgium and India, with Choksi’s legal representatives likely to challenge the process. ​

Implications and Outlook

Choksi’s arrest is a significant step in India’s efforts to bring him to justice and recover the defrauded funds. The collaboration between Indian and Belgian authorities underscores the importance of international cooperation in combating financial crimes. As the legal proceedings unfold, the case is expected to have broader implications for international extradition treaties and the enforcement of economic offenses across borders.​

The outcome of this case will be closely monitored, as it could set precedents for future international legal collaborations in addressing large-scale financial frauds.