Following his arrest on India’s CBI request, a Belgian court has denied bail to Mehul Choksi, wanted in the ₹ 13,500 crore PNB fraud case
The Belgian court decided to keep Mehul Choksi in custody since Indian authorities seek him for his involvement in the ₹13,500 crore Punjab National Bank (PNB) fraud scheme. The court ruled after both parties presented their arguments to a three-judge bench. The defendant Choksi used his legal representation to argue for bail because of his health problems and wished to remain with his family. He confirmed before the court that he would strictly fulfil all bail requirements by having a GPS-tracking device. The court rejected his bail application because he did not provide enough legal basis despite his allegations.
CBI’s Request Leads to Arrest in Belgium
Belgian authorities took Choksi into custody after the Central Bureau of Investigation from India requested his extradition for involvement in the PNB loan scam. The Indian authorities believe Choksi masterminded a financial fraud by fraudulently issuing PNB letters of undertaking to provide benefits to linked companies with his associates. The arrest constitutes a crucial development as India tries to retrieve fugitives who have committed major financial offences. Indian authorities cooperate closely with Belgian authorities to apply legal and diplomatic methods to ensure his eventual extradition.
Legal Challenge Expected Against Arrest
The legal group representing Choksi intends to file an objection against his arrest. He insists the way they held him did not follow principles of natural justice during his capture. Lawyers will present their medical health condition and Belgian community connections to establish weak flight risk factors.
Law enforcement authorities maintain Choksi as a high-risk individual because he escaped from their control in the Caribbean despite his defence arguments. Choksi obtained citizenship from Antigua and Barbuda right before the PNB case emerged, as he moved out of India in 2018.
Extradition Process May Face Delays
The bail denial helps India in its extradition case, yet the legal process in Belgium might span various months. His legal team will maximise the available appeals process before the Indian authorities can return him to India. The Ministry of External Affairs continues to collaborate with Belgian officials to establish proper procedures to boost the extradition process. In addition to the charges that led to bail denial, Indian authorities continue assembling new evidence and documents to support the legal case.
The legal process in Belgium keeps Choksi under custody while his case progresses. India’s top financial fraud investigations include the Choksi case, together with the separate legal proceedings against Nirav Modi operating in the United Kingdom.
