India's Growing Stature! After Tahawwur Rana, Fugitive Mehul Choksi Arrested in Belgium

Mehul is accused in several financial irregularities including a ₹13,000 crore fraud case of PNB. Amid his arrest in Belgium, Indian agencies have escalated the extradition request. If all the process remains streamlined, Mehul’s arrival in India can be expected very soon. This can be a big win for Indian agencies and diplomacy under the leadership of the Prime Minister. Recently, NIA successfully extradited 26/11 mastermind Tahawwur Rana. Rana’s extradition was a big victory for India and now Choksi’s arrest in Belgium is another big development.

Mehul Choksi – Fugitive running since 2018

In January 2018, weeks before the financial scam in PNB came to light, Choksi along with his nephew Nirav had fled the country. The Indian agencies are since trying to bring back the fugitive. Mehul Choksi and Nirav were running a multi-million-dollar diamond business – Gitanjali Gems.
Choksi is accused of defrauding Punjab National Bank of over ₹6,095 crore through a massive banking scam involving the fraudulent issuance of Letters of Undertaking (LOUs) and the manipulation of Foreign Letters of Credit (FLCs). Though the broader estimated fraud is pegged at over ₹13,000 crore, investigative agencies have specifically built a case against Choksi based on the ₹6,095 crore component linked directly to his operations.

What was Mehul doing in Belgium and next step for agencies

After leaving India, Mehul got the citizenship of the island country, Antigua. He is currently an Antiguan citizen. But after 2021, he went missing. Later he was spotted in the Caribbean island of Dominica. The pressure from the Indian agencies is the reason for the movement of the Indian fugitive.
Later Mehul again fled and is in Belgium for the last four months. His lawyers have clarified that Mehul has travelled to Belgium for the treatment of blood cancer. But media reports and sources suggest that Mehul wanted to enter Switzerland.

Mehul has been using medical treatment as shield

Fugitive Mehul Choksi arrested in Belgium is a regular defaulter. His lawyers have been using the medical reports and his health condition as a shield for long. Earlier in 2024 when Indian agencies requested his extradition, his lawyers argued that he cannot travel because of health conditions. But only after a few weeks, Mehul travelled to Belgium.

First Tahawwur Rana, now Mehul Choksi – a pattern?

In recent years, Indian agencies have been trying very hard to extradite terrorists and fugitives. Tahawwur Rana’s successful extradition is the living example of India’s achievement. A simple pattern of action is clearly visible in these events. Now, India’s extradition request amid Mehul Choksi’s arrest in Belgium can be a red signal for other fugitives like Vijay Mallya, Nirav Modi and Lalit Modi.