In a significant development, a Belgian court has approved the extradition of fugitive businessman Mehul Choksi to India, marking a crucial victory for Indian authorities in their pursuit of the multi-crore Punjab National Bank (PNB) fraud case. The court ruled that Choksi’s arrest was valid, clearing the legal hurdles that had stalled his return to India for years.
Background of the Case
Mehul Choksi, along with his nephew Nirav Modi, is accused of defrauding Punjab National Bank to the tune of over ₹13,500 crore through fraudulent Letters of Undertaking (LoUs). The scam, unearthed in 2018, sent shockwaves across India’s financial sector and led to major banking reforms.
Following the revelation, Choksi fled India and took citizenship of Antigua and Barbuda, claiming that he was being framed. Since then, the Indian government has been making diplomatic and legal efforts to bring him back to face trial.
The Court’s Verdict
The Belgian court’s decision came after examining India’s extradition request and reviewing evidence related to Choksi’s citizenship, health, and alleged abduction claims. The court dismissed his objections, stating that there was no violation of international law or human rights in his arrest, thereby paving the way for his deportation to India.
India’s Legal Victory
Legal experts have described the ruling as a major diplomatic and judicial win for India, which has been consistently working to repatriate economic offenders who fled abroad after committing large-scale financial frauds. Officials from India’s Ministry of External Affairs (MEA) and Enforcement Directorate (ED) are expected to coordinate with Belgian authorities for the next steps in the extradition process.
Choksi’s Future in India
Once extradited, Mehul Choksi will face trial under the Prevention of Money Laundering Act (PMLA) and Indian Penal Code (IPC) for criminal conspiracy, cheating, and corruption. The ED is also likely to recover and auction his seized assets to compensate public sector losses.