Big Win For Indian Agencies: Mehul Choksi Detained Days After Rana’s Extradition

Indian law enforcement has scored its second major breakthrough in just one week. Following the extradition of 26/11 accused Tahawwur Rana to India, Belgian authorities have now arrested fugitive diamond businessman Mehul Choksi.

Choksi, a central figure in the ₹13,000 crore Punjab National Bank (PNB) scam, was located in Antwerp, Belgium, where he was reportedly undergoing medical treatment. His arrest came after the CBI and Enforcement Directorate (ED) renewed their extradition request, even though Interpol had previously withdrawn the Red Notice issued against him.

As the founder and managing director of Gitanjali Gems, Choksi allegedly masterminded a massive banking fraud over several years, in collaboration with his nephew Nirav Modi, who is currently in London.

The duo is accused of using fraudulent Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) from PNB’s Brady House branch in Mumbai. These financial instruments, allegedly issued in conspiracy with corrupt bank officials, were used to obtain credit from international banks. The funds – which should have been used to import gems and jewelry – were instead misappropriated and laundered. Reports suggest that SWIFT, the global messaging system used for banking transactions, was manipulated to conceal these activities from PNB.

Now 65 years old, Choksi has managed to evade the law for years. He obtained citizenship of Antigua and Barbuda in 2017, just before the scam came to light. Since the country has no extradition treaty with India, he fled there on January 2, 2018, shortly before the fraud became public.

In 2021, he was briefly detained in Dominica, allegedly while trying to escape to Cuba by boat. However, authorities there deported him back to Antigua, and India’s attempt to have him extradited was denied. Then, in 2023, India suffered another legal setback when Interpol revoked the Red Notice against him.

In 2024, Choksi relocated to Antwerp, the global hub for diamonds, citing treatment for blood cancer. He subsequently acquired permanent residency in Belgium. Nonetheless, Indian agencies continued to pursue his extradition, and their persistence paid off when Belgian police detained him.

According to sources, Choksi’s bail hearing is expected to be held in at least a week, giving India valuable time to strengthen both its legal arguments and diplomatic outreach in a renewed bid to bring him back. Watch more

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