Mehul Choksi | Photo credit:
The Jewelry of Diamonds of Eschancation Mehul Choksi has been arrested in Belgium after an extradition application by the Indian research agencies for their alleged participation in the case of ‘fraud’ of PNB bank loan of RS 13,000 million rupees, official sources said on Monday.
The action against Diamantaire was tasks on Saturday.
The sources said that after Interpol Red’s notice against him to judge was “eliminated”, the Indian agencies, the configuration address (ed) and the CBI, moved for his extradition of Belgium.
Choksi, his nephew and merchant of fugitive diamonds Nirav Modi and his relatives and employees, bank officials and others were reserved by the two agencies in 2018 for perpetrating the alleged loan fraud at the Brady House branch of PNB in Mumbai.
Ed claimed that Choksi, his firm Gitanjali Gems and others “committed the crime of cheating against the National Punjab Bank in collusion with certain banking officials by fraudulently obtaining the bad ones (business letters) issued and obtaining the FLCS (foreign credit letter) improved without following the prescribed procedure and causing an incorrect loss in the bank.”
The ED has presented three load sheets against Choksi so far. The CBI has also presented similar charges against him.
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Posted on April 14, 2025