In a significant legal victory for Indian investigative agencies, a court in Belgium has ruled in favor of extraditing billionaire jeweler Mehul Choksi to India, where he faces serious charges in one of the country's largest banking fraud cases.
The Landmark Ruling
The Belgian judicial authorities have given their consent for Choksi's extradition, bringing Indian authorities one step closer to bringing the alleged mastermind of the Punjab National Bank (PNB) scam to justice. This development marks a crucial turning point in the multi-year legal battle that has spanned international borders.
The Massive Financial Fraud
Mehul Choksi, along with his nephew Nirav Modi, stands accused of orchestrating a staggering ₹13,000 crore fraud against Punjab National Bank. The elaborate scheme involved fraudulent Letters of Undertaking (LoUs) issued by PNB's Brady House branch in Mumbai, which enabled the accused to obtain massive credit from overseas branches of Indian banks.
International Manhunt Comes to a Head
Choksi had been evading Indian authorities since the scam came to light in early 2018. After leaving India just before the fraud was uncovered, he acquired citizenship of Antigua and Barbuda in 2017. His legal troubles intensified when he was arrested in Dominica in 2021 while attempting to flee to Cuba, eventually leading to his transfer to Belgium where the extradition proceedings took place.
What This Means for the Case
The Belgian court's decision represents a major breakthrough for the Enforcement Directorate and Central Bureau of Investigation, who have been pursuing Choksi across multiple jurisdictions. If extradited, Choksi will face trial in Indian courts for money laundering, criminal conspiracy, cheating, and corruption charges.
This ruling strengthens India's position in international legal cooperation and sends a strong message that economic offenders cannot evade justice by fleeing the country. The development comes as a relief to the banking sector and investigators who have been working tirelessly to recover the massive losses incurred in one of India's most high-profile financial scams.
