Mehul Choksi Arrested in Belgium for ₹13,500 Crore PNB Scam
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Background
Mehul Choksi, a prominent Indian jeweler, was arrested in Antwerp, Belgium, on April 12, 2025, following an extradition request from Indian authorities. He is accused of being involved in the ₹13,500 crore Punjab National Bank (PNB) fraud, one of India's largest banking scandals.
Choksi, along with his nephew Nirav Modi, allegedly used fraudulent Letters of Undertaking to secure loans from PNB, which were then used to acquire luxury assets. Both fled India in 2018, with Modi arrested in the UK in 2019 and Choksi subsequently residing in Antigua.
Arrest Details
The arrest was made at the request of the Central Bureau of Investigation (CBI), which had been pursuing Choksi for years. Belgian authorities apprehended him based on open arrest warrants issued by a Mumbai court in 2018 and 2021.
Choksi's legal team plans to appeal the arrest, citing his poor health and alleging that the case is politically motivated. They also raised concerns about the conditions in Indian prisons.
Implications
This development marks a significant step in bringing Choksi to justice. Indian agencies, including the Enforcement Directorate (ED), are working to expedite his extradition to face charges in India.
Choksi's arrest also highlights the international efforts to combat financial crimes and the importance of global cooperation in addressing such issues.