PNB bank loan ‘fraud’ case: Fugitive businessman Mehul Choksi arrested in Belgium

Fugitive diamond merchant Mehul Choksi, wanted in the Rs 14,000-crore Punjab National Bank fraud, has been arrested in Belgium

Choksi’s arrest was based on two non-bailable warrants issued by a Mumbai court, dated May 23, 2018, and June 15, 2021, according to people familiar with the development.
Choksi is now preparing for a legal fight as his defence team prepares to seek bail and challenge efforts to extradite him to India.
His lawyers argue that there are valid grounds to oppose extradition, including his medical condition.
The 65-year-old fugitive diamond trader is wanted by the CBI and ED for his alleged role in defrauding PNB of nearly Rs 1,400 crore, along with his nephew Nirav Modi.
Reacting to the news of Choksi’s arrest, the PNB scam whistle-blower Hariprasad SV said, “It’s really great news.

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