Mehul Choksi

Fugitive diamond tycoon Mehul Choksi, wanted in the ₹13,000 crore PNB scam, has been arrested in Belgium. Will he finally be extradited to India? What’s the status of the case and why is this arrest significant? Watch the full explainer for all the answers.

"The Interpol has issued a Red Corner Notice against Mehul Choksi on the request of CBI," CBI spokesperson Abhishek Dayal said.

In one of the 10 applications filed by Choksi before the Prevention of Money Laundering Act (PMLA) court of judge M S Azmi, the diamond trader stated that he cannot take a "41-hour" flight to come to India due to a "brain clot" and other medical conditions.

They said India was in touch with the island nation following reports of Choksi's presence there and requested the authorities there to restrict his movements by land, sea and air.

Modi, who is reportedly in the UK attempting a political asylum, and Choksi, promoter of Gitanjali group whose whereabouts are unknown as yet, are on the run since the CBI registered an FIR against them on January 31.

Mehul Choksi, one of the prime accused in the alleged fraud at Punjab National Bank, has written to the CBI, expressing his inability to return to India to face charges.

Watch the interview of Mehul Choksi, CMD, Gitanjali Group with Manisha Gupta on CNBC-TV18, in which he shared his reading and outlook on gold.

The jewellery industry hopes its life will become a little easier. The commerce ministry plans to boost gems and jewellery production in India through the ‘Make in India‘ programme. To this end, commerce secretary Rajeev Kher met representatives of the gems and jewellery sector to exchange notes and proposals to push the sector ahead.

"We have to maintain a 20 percent export which is fair and will be very good for the government as well," Mehul Choksi says in an interview to CNBC-TV18.

In an interview with CNBC-TV18’s Latha Venkatesh and Anuj Singh, Mehul Choksi, CMD of Gitanjali Gems spoke about the latest happenings in their company and the road ahead.