PNB Scam Accused Mehul Choksi Arrested in Belgium, India Begins Extradition Process

Fugitive businessman Mehul Choksi, long wanted by Indian authorities in connection with a massive financial scam, was apprehended in Belgium on Sunday. Choksi had been evading arrest for years following his alleged involvement in the multi-crore Punjab National Bank (PNB) fraud case. His arrest marks a significant development in the ongoing efforts to bring him back to India to face trial.

#BreakingNews | Fugitive Businessman Mehul Choksi Detained In Belgium

Exclusive Input: @manojkumargupta @DhantaNews | #Belgium #MehulChoksi pic.twitter.com/YWhOUaoYDk

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According to reports,  Mehul Choksi was arrested in Belgium following India’s request for his extradition in connection with the Punjab National Bank loan fraud case. The Central Bureau of Investigation (CBI) formally sought Choksi’s extradition after tracking him down in Belgium in March 2025. His arrest was made on the basis of this request, which was backed by two non-bailable warrants issued by a Mumbai court on May 23, 2018, and June 15, 2021.

Indian authorities have requested Mehul Choksi's extradition from Belgium, but his newly acquired Belgian residency complicates the process by allowing him to travel freely across Europe. Choksi has been declared a Fugitive Economic Offender for his role in a massive ₹14,000 crore Punjab National Bank scam, carried out along with his nephew Nirav Modi — one of India's largest banking frauds.

In connection with the ₹13,500 crore loan fraud, the Enforcement Directorate (ED) filed its third chargesheet in 2022 against Mehul Choksi, his wife Priti Choksi, and others. The ED alleged that Choksi, his firm Gitanjali Gems, and certain bank officials fraudulently obtained Letters of Undertaking and enhanced Foreign Letters of Credit, bypassing standard procedures and causing significant losses to Punjab National Bank. Both the ED and CBI have filed multiple chargesheets against Choksi in the case.