Diamond Mogul Choksi's Legal Battle: FEO Status Upheld in PNB Scam

A court rejected Mehul Choksi's plea to quash Fugitive Economic Offender proceedings linked to the PNB fraud case. Despite an ongoing investigation by the SFIO, the court sided with the ED, allowing the process to continue, arguing no law prevents parallel proceedings under different acts.

A court has dismissed the attempt by absconding diamond tycoon Mehul Choksi to halt proceedings that could label him a Fugitive Economic Offender in the high-profile Punjab National Bank (PNB) fraud case.

Choksi's argument hinged on parallel extradition efforts from Belgium and an SFIO investigation, hoping these would stall the ED's pursuit. However, the rejection of a similar plea last year had become final, as it was not appealed in a superior court.

The judge ruled in favor of the Enforcement Directorate, affirming that SFIO's involvement does not hinder the progress of FEO proceedings. Choksi remains a primary figure in the Rs 13,000 crore scam, with his property at risk of confiscation.

(With inputs from agencies.)