Mehul Choksi, a fugitive diamond merchant accused of a massive fraud involving 63,000 crore rupees from Punjab National Bank (PNB), has had his bail plea rejected by a Belgian court. Choksi had recently submitted a fresh bail application on August 22, even proposing house arrest. The court, however, rejected this, citing the risk associated with his release. This decision echoes a prior rejection of his bail request by the Belgian court. The court sided with the Central Bureau of Investigation (CBI), which argued that Choksi, if freed, might abscond to another country, as he had done before. The CBI presented evidence to the Belgian prosecution, detailing Choksi’s efforts to avoid legal processes across multiple countries to evade arrest. This led Indian agencies to recommend the denial of bail. Choksi’s arrest in Belgium occurred in April 2025, based on a CBI extradition request. The extradition case is set for a detailed hearing in a Belgian court in mid-September. The CBI is supporting the Belgian prosecution to strengthen the legal basis for Choksi’s return to India. Mehul Choksi, the 66-year-old owner of the Gitanjali Group, is alleged to have colluded with his nephew, Nirav Modi, to defraud PNB’s Mumbai Brady House branch of 13,000 crore rupees. The scheme reportedly involved fraudulent letters of undertaking and the involvement of bank officials, and is considered one of India’s largest banking scams. India is focused on Choksi’s extradition. Choksi has evaded Indian authorities for a considerable period, initially fleeing to Antigua and subsequently utilizing legal means to avoid extradition. The Belgian court’s ruling is viewed favorably in India, potentially simplifying the process of his extradition.
