Fugitive Financier Mehul Choksi Arrested in Belgium: A New Twist in PNB Scam Saga

Gitanjali Gems' ex-MD Santosh Srivastava applauds Mehul Choksi's arrest in Belgium, urging swift extradition and fund recovery. Choksi's lawyer plans to appeal, citing health issues, while experts warn of a tough legal battle ahead. Choksi and his nephew are implicated in the infamous Rs 13,850 crore PNB fraud.

The arrest of Mehul Choksi in Belgium marks a significant development in the ongoing Punjab National Bank (PNB) scam saga. Former Gitanjali Gems Managing Director, Santosh Srivastava, applauded the arrest and called on the Indian government to expedite Choksi's extradition and ensure recovery of the defrauded funds.

Choksi, facing charges of a Rs 13,850 crore fraud alongside his nephew Nirav Modi, was detained after local authorities confirmed his presence in Belgium. While preparations for his extradition are underway, Choksi's legal team is gearing up for a battle, citing his health as grounds for release.

Choksi's lawyer, Vijay Aggarwal, highlighted his client's ill health and ongoing cancer treatment. He plans to file an appeal, contesting Choksi's custody. Meanwhile, PNB Scam whistle-blower Hariprasad SV cautioned that Choksi might use top European lawyers, complicating the extradition process akin to past cases like Vijay Mallya.

(With inputs from agencies.)