The North News
New Delhi, April 14
Mehul Choksi, the fugitive diamond tycoon wanted in one of India’s largest bank fraud cases, has been arrested by Belgian authorities. The 65-year-old was detained from a hospital in Belgium where he was reportedly undergoing treatment, according to media reports quoting the sources.
Choksi has been on the run since 2018 and is accused, along with his nephew Nirav Modi, of orchestrating a ₹13,500 crore loan fraud at Punjab National Bank. His arrest was made following a formal request by Indian agencies – the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) – under non-bailable warrants issued by Mumbai courts.
According to India Today and NDTV, Choksi was taken into custody on 12 April, just days after Indian authorities renewed efforts to extradite him. Officials believe he travelled to Europe citing poor health after pressure intensified from investigative agencies.Nirav Modi, Choksi’s nephew and alleged co-conspirator, remains in custody in the UK, where he is fighting extradition proceedings. Both men have denied wrongdoing in the high-profile fraud that rocked India’s banking sector and triggered tighter regulatory scrutiny on public sector banks.
Choksi, who previously held Antiguan citizenship, had managed to evade arrest for years despite multiple red notices and diplomatic negotiations. His latest detention marks a significant development in India’s pursuit of economic offenders living abroad.
The Indian government has yet to officially comment on the arrest, but sources suggest extradition discussions are now expected to move swiftly.
