A Mumbai court has issued a non-bailable warrant against Mehul Choksi, a fugitive diamond merchant, in connection with a ₹55.27-crore loan fraud case involving Canara Bank. Choksi, who is currently residing in Antigua, has been accused of cheating and conspiracy along with his company, Gitanjali Gems. The warrant was issued by a special court set up to hear cases related to bank scams.
The case involves a loan that was sanctioned by a consortium of banks led by Canara Bank to Choksi’s company. However, the loan was allegedly used for purposes other than what was intended, and the company defaulted on the repayments. The Central Bureau of Investigation (CBI) had filed a charge sheet against Choksi and his company in 2018, but he had already fled the country by then.
Choksi has been on the run since 2018, and his whereabouts were unknown until he was spotted in Antigua. He has been living in the Caribbean island nation since then, and has been trying to avoid extradition to India. In fact, a Belgian court has delayed a hearing on Choksi’s challenge to his arrest, which is a setback for the Indian authorities who are trying to bring him back to the country to face trial.
The non-bailable warrant issued by the Mumbai court is a significant development in the case, as it paves the way for Choksi’s extradition to India. The Indian government has been trying to extradite Choksi from Antigua, but the process has been delayed due to various legal hurdles. The issuance of the non-bailable warrant is likely to put pressure on the Antiguan authorities to hand over Choksi to India.
The loan fraud case involving Choksi is one of the several cases of bank scams that have rocked India in recent years. The case has sparked widespread outrage and has led to calls for stricter laws and regulations to prevent such scams in the future. The Indian government has been taking steps to recover the money lost in the scam and to bring the perpetrators to justice. With the issuance of the non-bailable warrant, it seems that the authorities are one step closer to achieving this goal.