The 65-year-old fugitive diamond merchant Mehul Choksi, one of the prime accused in the 2016 PNB fraud worth Rs 13,000 crore, was arrested by the Belgian police on April 12, based on the extradition request by Indian investigative agencies.
Choksi was located to be in Belgium last year seeking medical treatment and had been staying in Antigua since 2018 after evading arrest in India. Here's a timeline of events beginning from the PNB scam to his arrest:
2014–2017: Mehul Choksi, the owner of Gitanjali Group, allegedly conspired with his associates and some PNB officials to get fraudulent Letters of Undertaking (LOUs) and Foreign Letters of Credit (FLCs) without following the bank's official procedures. These were then used to raise loans from overseas banks. This resulted in an estimated loss of Rs 6,098 crore for PNB. Notably, this was only a part of the massive Rs 13,850 crore scam involving Choksi and his nephew Nirav Modi, marking one of India's biggest banking scams so far.
2017: Fearing legal trouble, Mehul Choksi acquired citizenship of Antigua and Barbuda, which doesn't have an active extradition treaty with India. This gave him a legal foothold in the country, while trying to evade justice.
Also Read: Here's how Choksi became a citizen of Antigua
2018: Just before the scam was unearthed, Choksi fled the country on January 2, 2018. He initially flew to US, and then eventually to Antigua. After his departure, the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) registered cases against Choksi, Nirav Modi, and others.
The Indian agencies later conducted raids at over 136 locations linked to the fugitives, and seized jewellery and valuables worth around Rs 598 crore linked to the Gitanjali Group. In total, the agencies attached or seized assets worth Rs 2,566 crore in the case. These included immovable properties in India and abroad, bank accounts, cars, a factory, shares of listed companies, and jewellery.
2019: Choksi's nephew and key accused in the case Nirav Modi was arrested in London in May 2019. While he still remains arrested in London, he has exhausted all legal routes to challenge his extradition and now awaits transfer to India.
2021: Choksi was detained in Dominica in 2021, while allegedly attempting to flee to Cuba by boat. His lawyers claimed that he was forcibly abducted from Antigua and taken to Dominica. India sought his extradition, which was rejected by Dominican authorities. He was eventually deported back to Antigua.
2023: Interpol revoked the Red Notice against Choksi in March 2023, citing concerns over fair trial rights and possible political provocations. This acted as a major blow to India's extradition efforts.
Also Read: Here's a list of loans issued by banks to Mehul Choksi's Gitanjali Gems
2024: Choksi's legal team said that the businessman has been diagnosed with blood cancer, and has moved to Belgium for treatment. He and his wife Preeti, who is a Belgian citizen, were able to secure a legal residency in Belgium.
2025: Choksi was detained in Belgium, after a renewed extradition plea by the CBI and ED. His legal team is now preparing to challenge the extradition request, citing his health condition. His team plans to move for bail.
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