The Arrest in Belgium

Absconding diamond trader Mehul Choksi was arrested in Belgium, marking a significant step in India's efforts to extradite him in connection with the Rs 13,000 crore Punjab National Bank (PNB) loan fraud case. His arrest from a hospital in Belgium comes after the Interpol Red Notice against him was removed, prompting renewed efforts by Indian authorities.

The Case Against Choksi

Choksi, alongside his nephew Nirav Modi, is accused of orchestrating a massive loan fraud at PNB’s Brady House branch in Mumbai. Through his firm Gitanjali Gems, he allegedly obtained Letters of Undertaking and enhanced Foreign Letters of Credit fraudulently, causing significant losses to the bank.

The Fugitive's Journey

From fleeing to Antigua and Barbuda after the scam's exposure in 2018 to his recent arrest in Belgium, Choksi's journey has been marked by legal battles and evasion. His attempts to avoid extradition, citing political conspiracy and concerns over prison conditions in India, have so far been unsuccessful.

Belgian Residency and Next Steps

Choksi's presence in Belgium, where he obtained residency, has been confirmed. With India and Belgium's extradition treaty in place, the focus now shifts to whether he will finally be brought back to India to face justice.