Fugitive Businessman Mehul Choksi Arrested in Belgium, India Likely to Seek Extradition
Mehul Choksi, fugitive diamond tycoon wanted in the ₹14,000 crore PNB scam, has been arrested in Belgium, where he had recently obtained residency status
Fugitive businessman Mehul Choksi, accused in one of India’s biggest banking frauds, was arrested in Belgium on Sunday, according to sources familiar with the matter. Choksi had been living in Antwerp with his wife, Preeti Choksi, a Belgian national, and had secured a Belgian ‘F Residency Card’ on November 15, 2023.
Sources in Indian agencies have confirmed that authorities are preparing to formally request Belgium for his extradition. However, legal experts warn that Choksi’s new residency status could complicate the extradition process due to protections under European Union law.
Under the Belgian residency framework, Choksi enjoys limited rights of movement within the EU, making it harder for Indian agencies to execute a straightforward extradition.
“Residency in a European Union country can pose legal hurdles, especially when there’s no bilateral extradition treaty or where humanitarian grounds can be cited,” a senior Indian legal officer said.
Choksi, along with his nephew Nirav Modi, is accused of defrauding Punjab National Bank of over ₹14,000 crore using fraudulent Letters of Undertaking (LoUs). The Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) have filed multiple charge sheets against him.
In 2022, the ED filed its third charge sheet, naming Mehul Choksi, Preeti Choksi, and others for their alleged involvement in the ₹13,500 crore loan fraud. He was declared a Fugitive Economic Offender (FEO) by Indian courts, enabling authorities to seize his properties in India and abroad.
The Ministry of External Affairs is expected to formally engage with the Belgian government in the coming days. “All diplomatic and legal channels will be explored to bring Choksi back to face justice in India,” said a senior government official.
Officials are also coordinating with Interpol and the Belgian law enforcement agencies to navigate the complexities of the case, sources added.
