In a dramatic twist to the ongoing ₹13,000 crore Punjab National Bank fraud case, fugitive diamantaire Mehul Choksi has escalated his legal battle by approaching the Supreme Court of Belgium to challenge his extradition to India.
The development comes as the latest chapter in the high-profile financial scandal that rocked India's banking sector, with Choksi and his nephew Nirav Modi accused of orchestrating one of the largest banking frauds in the country's history.
The Legal Standoff in Belgium
Choksi's appeal to Belgium's highest judicial authority represents a strategic move to prolong his stay abroad and avoid facing Indian courts. Legal experts suggest this could significantly delay the extradition process, potentially adding months or even years to the timeline.
The fugitive businessman's legal team is reportedly arguing multiple points in their appeal:
- Challenges to the validity of the extradition request from Indian authorities
- Concerns about prison conditions and human rights protections in India
- Disputes over the legal documentation presented by the Indian government
- Questions regarding the political nature of the case
Background: The PNB Fraud Saga
The massive financial scandal came to light in early 2018 when Punjab National Bank disclosed fraudulent transactions worth approximately ₹13,000 crore. The elaborate scheme involved allegedly fraudulent Letters of Undertaking (LoUs) issued by PNB's Brady House branch in Mumbai to overseas branches of other Indian banks.
Choksi, who left India in January 2018 just before the scandal broke, has since been living in Antigua and Barbuda, where he obtained citizenship through the country's Citizenship by Investment Program.
International Manhunt and Legal Complexities
The case has evolved into an international legal drama involving multiple jurisdictions:
- India's persistent efforts to bring back the accused
- Legal battles in Antigua and Barbuda regarding Choksi's citizenship
- Interpol Red Corner notices against the businessman
- Now, the fresh challenge in Belgium's judicial system
Choksi's mysterious disappearance from Antigua in May 2021 and subsequent appearance in Dominica added another layer of complexity to the case, with allegations of abduction and illegal rendition surfacing during the proceedings.
What's Next in the Legal Battle?
The Belgium Supreme Court's decision will be crucial in determining how quickly Indian authorities can proceed with their case against the diamantaire. A ruling in favor of India could pave the way for Choksi's eventual transfer to Indian soil, while a decision in his favor would represent another setback for the investigating agencies.
This development underscores the challenges faced by Indian authorities in extraditing economic offenders who have fled the country, despite the government's increased focus on bringing back fugitives under its "Economic Offenders" initiative.
