Minister of State for Finance Pankaj Chaudhary praised the arrest of Mehul Choksi
Nagpur: The arrest of fugitive Indian billionaire Mehul Choksi in Belgium was hailed as a “very big achievement” by Minister of State for Finance Pankaj Chaudhary on Monday.
According to earlier reports, Choksi was taken into custody in Belgium on Saturday after confirmation of his presence by Belgian officials. Additionally, according to the sources, plans were on to extradite him to India.
Chaudhary reiterated Prime Minister Narendra Modi’s pledge to bring back the criminals who have embezzled the nation’s funds in an interview with the media report.
“Prime Minister Narendra Modi has already said that individuals who have embezzled impoverished people’s money would be required to reimburse them. And the nation is taking action against these individuals.” The arrest of Mehul Choksi is undoubtedly a huge accomplishment,” Chaudhrary said.
According to insiders, Choksi is presently getting ready for a court fight. His defence team says it will fight his extradition and intends to apply for bail. Choksi has compelling grounds to contest the extradition request, according to the legal team, who also point to his physical condition.
The CBI and Enforcement Directorate (ED) are looking for the 65-year-old fugitive diamond dealer who fled India on January 2, 2018, on suspicion of cheating the PNB of Rs 13,850 crore. He was also complicit in the scam alongside his nephew, Nirav Modi.
After fleeing India, he first went to the US before relocating to Antigua. Choksi obtained Antiguan citizenship before departing India in 2017. He was then detained in Dominica for reportedly attempting to escape to Cuba, despite his lawyer’s assertion that he had been abducted from Antigua.
India filed a request for extradition before the court, but Dominica sent him back to Antigua. According to reports, he departed Dominica to have cancer treatment in Belgium.
From 2014 to 2017, Choksi reportedly conspired with his colleagues and other Punjab National Bank (PNB) executives to acquire Letters of Undertaking and Foreign Letters of Credit from PNB unlawfully. This allegedly caused PNB to lose Rs. 6097.63 crore.
