Mehul Choksi, a fugitive Indian businessman, is likely to face extradition proceedings in a Belgian court over his alleged involvement in the ₹13,000 crore Punjab National Bank (PNB) scam. Choksi, who is currently living in Antigua, has been charged by Indian authorities with money laundering and fraud in connection with the scam.
The PNB scam, which was uncovered in 2018, involved the issuance of fraudulent letters of undertaking (LoUs) by bank officials, which allowed Choksi’s companies to obtain loans from overseas banks. The scam is estimated to have caused a loss of ₹13,000 crore to the bank. Choksi, who is the uncle of Nirav Modi, another accused in the scam, has denied any wrongdoing and claims that he is being targeted by the Indian government for political reasons.
Choksi had obtained citizenship of Antigua in 2017, and has been living there since then. However, India has been trying to extradite him to face trial in the country. In 2020, the Indian government had sent a request to the Antiguan government to extradite Choksi, but the request was rejected. Choksi has also approached the courts in Antigua to prevent his extradition to India.
Recently, it has been reported that Choksi’s case may be heard by a court in Belgium, where he has assets and business interests. The Belgian court may consider India’s request to extradite Choksi, which could pave the way for his extradition to India. If extradited, Choksi will face trial in India and could face severe penalties, including imprisonment and fines, if found guilty.
The development in Choksi’s case is significant, as it could set a precedent for the extradition of other fugitive Indian businessmen who are living abroad. The Indian government has been trying to extradite several other individuals, including Nirav Modi and Vijay Mallya, who are accused of financial crimes in India. The success of Choksi’s extradition could embolden the Indian government to pursue other cases more aggressively.
It is worth noting that the extradition process can be complex and time-consuming, and it may take several months or even years for the Belgian court to decide on Choksi’s case. However, the fact that Choksi’s case may be heard by a court in Belgium is a significant development, and it could have major implications for the fugitive businessman and his associates.