Mehul Choksi Denied Bail By Belgian Court

<p>A Belgian court on Tuesday rejected the bail application of fugitive Mehul Choksi, the prime accused in the Rs 13,000-crore Punjab National Bank (PNB) fraud case.</p>
<p>The diamond merchant was arrested in Antwerp by the Belgian authorities on April 12 following an extradition request by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) over the fraud case. The CBI has filed at least two chargesheets against him, while the ED has filed three prosecution complaints.&nbsp;</p>
<p>Choksi’s lawyer Vijay Aggarwal stated that the bail plea was rejected during a court hearing in Belgium on Tuesday. He will now contest his extradition from jail custody, news agency PTI reported citing a senior official.</p>
<p>According to a report by India Today, Choksi told the court that he was unwell and wished to be with his family. He also assured the court that he was willing to accept all the conditions, includin wearing a GPS-enabled anklet, if required. However, his bail plea was rejected.</p>
<h3>What Was The PNB Fraud Case?</h3>
<p>Choksi was located in Belgium in 2024 after he reached there in November 2023 on the grounds of getting medical treatment. He had left India in 2018 and had been staying in&nbsp;Antigua. He had taken citizenship of the Caribbean country despite his Indian citizenship being valid.</p>
<p>Indian officials shared at least two open-ended arrest warrants, issued by a special court in Mumbai in 2018 and 2021, with their Belgian counterparts while making an extradition request for Choksi.</p>
<p>His lawyer had earlier stated that Choksi was “extremely sick and undergoing treatment for cancer”.</p>
<p>Following his arrest, India stated it was working closely with Belgium on Choksi’s extradition. “Based on our extradition request, he was arrested. We are working closely with the Belgium side on his extradition so that he can face trial in the country,” External Affairs Ministry spokesperson Randhir Jaiswal said.</p>
<p>In 2018, Choksi, his nephew Nirav Modi, and some bank officials were among those booked by the CBI and the ED for allegedly carrying out a loan fraud at the Brady House branch of the PNB in Mumbai using fake letters of undertaking.</p>
<p>It was alleged that Choksi, his company Gitanjali Gems, and others cheate the bank with the help of certain bank officials by fraudulently getting the LOUs (letters of undertaking) issued and got the FLCs (foreign letter of credit) increased without following due procedure, causing massive loss to the bank.</p>