International Manhunt: Mehul Choksi's Arrest in Belgium

Mehul Choksi, a diamantaire and a prime suspect in the Punjab National Bank (PNB) fraud case, was arrested in Belgium following an extradition request by Indian authorities. The CBI and ED charged Choksi and others with defrauding PNB of Rs 13,000 crore. Formal paperwork is underway, and Choksi's legal team is contesting extradition on health and political grounds.

Renowned diamantaire Mehul Choksi, implicated heavily in the Rs 13,000 crore Punjab National Bank (PNB) fraud, was apprehended by Belgian authorities recently. His arrest marks a crucial development after extensive international pursuits led by India's Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).

Choksi, identified last year in Belgium under the guise of medical treatment, now faces extradition demands from India. Having been stationed in Antigua since 2018, Choksi's trail was marked by interpol notices and legal challenges in Mumbai court. His detention has fueled a legal battle with Choksi arguing health concerns and alleged political influences.

The massive PNB scam, entangling not just Choksi but family and associates, centers around fraudulent Letters of Undertaking and massive wrongful loans from several international banks, all processed clandestinely through PNB's Brady House branch. The scandal's wide-ranging effects continue to unfold globally, intensifying scrutiny on financial practices.

(With inputs from agencies.)