Diamond Mogul Choksi Nabbed in Belgium Over PNB Fraud Case

Mehul Choksi, an absconding diamond jeweller involved in the Rs 13,000 crore PNB fraud case, has been detained in Belgium. Following the deletion of an Interpol Red Notice, Indian agencies are now seeking his extradition. The case, which dates back to 2018, involves multiple parties.

Mehul Choksi, the diamond mogul accused of defrauding Punjab National Bank (PNB) of Rs 13,000 crore, has been apprehended in Belgium after an official request from Indian probe agencies. The detention comes amid ongoing efforts for his extradition spearheaded by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).

Choksi, who has been on the run since the alleged fraud came to light in 2018, faced a setback when the Interpol Red Notice for his arrest was recently removed. Nevertheless, this has not deterred Indian authorities, who have renewed their push for his return to face charges.

The scandal, which implicated Choksi, his nephew Nirav Modi, and several bank officials, rocked India's banking sector. They stand accused of orchestrating a complex scheme involving fraudulent issuance of letters of undertaking to secure funds, causing significant losses to PNB.

(With inputs from agencies.)