The Belgian court has rejected the bail application of Mehul Choksi, the fugitive diamond merchant implicated in a massive fraud of approximately 63,000 crore rupees from Punjab National Bank (PNB). Choksi had submitted a fresh bail plea on August 22, which included a proposal for house arrest. However, the court dismissed this proposal, deeming his release on bail too risky. This follows the previous rejection of his bail request by the Belgian court. The court sided with the Central Bureau of Investigation (CBI), agreeing with the argument that Choksi could flee if granted bail, mirroring his history. The CBI informed the Belgian prosecution about Choksi’s persistent attempts to evade legal proceedings across various countries to avoid arrest. Indian agencies therefore recommended against granting him bail. Choksi was arrested in Belgium in April 2025 following a CBI extradition request. A detailed hearing on Choksi’s extradition case is planned for mid-September in a Belgian court. The CBI is supporting the Belgian prosecution to establish a robust legal foundation for his return to India. Mehul Choksi, 66, the owner of Gitanjali Group, is accused of orchestrating a 13,000 crore rupees fraud at PNB’s Mumbai Brady House branch in collaboration with his nephew, Nirav Modi. The alleged fraud involved fraudulent letters of undertaking and the complicity of bank officials, which has been identified as one of India’s largest banking scandals. India is closely monitoring the extradition proceedings. Choksi has been avoiding Indian authorities for a considerable period, first fleeing to Antigua and later using legal means to resist extradition. The Belgian court’s decision is viewed as a positive step in India, possibly simplifying his eventual extradition.
