In a significant development in the high-profile Punjab National Bank (PNB) fraud case, Belgian authorities have confirmed the arrest of fugitive Indian businessman Mehul Choksi. The arrest took place on Saturday, and the Belgian Federal Public Service of Justice officially acknowledged his detention on Monday, April 14, 2025.
Choksi, a key accused in the ₹13,850 crore PNB scam, had been on the run since 2018. He had initially fled to Antigua and Barbuda, where he obtained citizenship. His arrest in Belgium came as a surprise, as he had been living outside Europe for several years. Belgian officials have stated that Choksi is being held in custody and will remain there until legal proceedings begin.
India Takes Swift Action, Files Extradition Request
Following confirmation of his arrest, Indian authorities wasted no time in acting on the opportunity to bring Choksi back to face trial. Both the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), which have been investigating Choksi for years, submitted an official extradition request to the Belgian government.
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The Indian government has long pursued efforts to repatriate Choksi to stand trial for his role in defrauding PNB of billions of rupees. His arrest in Belgium opens a new chapter in the case, raising hopes for his eventual return to India. Officials have indicated that all necessary legal and diplomatic channels are being utilized to expedite the extradition process.
Legal Counsel and Detention Conditions
Belgium’s justice ministry confirmed that Mehul Choksi has been granted access to legal counsel while in custody. He will be allowed to present his defense as part of the judicial process before any decision is made regarding extradition.
Sources have reported that Choksi may contest the extradition request in Belgian courts, as he has done previously in other jurisdictions. Legal experts anticipate that the process could involve multiple hearings and may take several weeks or even months, depending on the arguments presented by both sides.
Background: The PNB Fraud Case
Mehul Choksi and his nephew Nirav Modi are alleged to have masterminded one of the largest banking frauds in India. The duo allegedly used fraudulent Letters of Undertaking (LoUs) issued by PNB to secure large overseas loans. These loans were never repaid, resulting in massive losses for the state-owned bank.
The fraud was uncovered in early 2018, prompting a thorough investigation by Indian officials. While Nirav Modi was arrested in the United Kingdom and is still fighting extradition to India, Choksi managed to flee to the Caribbean. He later became a citizen of Antigua and Barbuda, making the extradition process more complicated.
Next Steps in the Extradition Process
With Choksi now in Belgian custody, the legal process will determine whether he can be extradited to India. Belgian courts will assess the Indian government’s request, along with any objections raised by Choksi’s legal team.
Officials in New Delhi have expressed cautious optimism about the outcome, stating that they are closely monitoring the case and are in regular contact with their counterparts in Belgium. If extradited, Choksi will be brought back to India to face charges of money laundering, criminal conspiracy, and fraud under various Indian laws.
This latest development marks a potential turning point in India’s efforts to bring high-profile economic offenders to justice.
