To speed up the extradition of the fugitive billionaire Mehul Choksi, a multi-agency law enforcement team is set to visit Belgium soon. They will expedite the the paperwork and coordinate with the Belgian government to execute the extradition procedure. Officers from the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have been reportedly shortlisted to visit Belgium.
The diamond merchant was arrested in Belgium on Sunday following a request from Indian authorities in connection with the ₹14,000-crore Punjab National Bank (PNB) loan fraud case. The arrest has set the stage for a key legal battle in Belgian courts, with India pressing for his extradition.
The CBI had issued an extradition request after locating Choksi in Belgium earlier this year. He had been granted residency in the country in November 2023. Choksi, along with his nephew Nirav Modi, is accused of defrauding PNB through fraudulent Letters of Undertaking, causing a massive loss to the Indian banking system. He has already been declared a Fugitive Economic Offender (FEO) by Indian authorities.
Choksi’s legal team is now preparing to challenge both the arrest and the extradition. His lawyer, Vijay Aggarwal, told CNN-News18 that a bail application would be filed on medical grounds, as Choksi is reportedly undergoing treatment for cancer. Aggarwal also indicated that the legal challenge would include human rights concerns, citing alleged poor prison conditions in India.
Referencing the recent UK High Court ruling in the Sanjay Bhandari case, Aggarwal said, “Generally, there are two grounds– this is a political case, and the human rights of the client will be affected.” The London court had denied India’s extradition request for Bhandari due to the risk of “extortion and violence” in Indian prisons, particularly at Tihar Jail.
Belgium’s Justice Department has confirmed that the Indian side has submitted an extradition request. As legal proceedings unfold, the focus will be on how the Belgian court weighs India’s demand against Choksi’s claims of medical vulnerability and concerns over custodial conditions in India.
2014–2017: The fraud unfolds
Mehul Choksi, owner of the Gitanjali Group, allegedly conspired with Punjab National Bank officials and associates to fraudulently obtain Letters of Undertaking (LOU) and Foreign Letters of Credit (FLC) without following the bank’s prescribed procedures
These instruments were used to raise credit from overseas banks, resulting in a wrongful loss of ₹6,097.63 crore to PNB. This was part of a broader ₹13,850 crore scam involving Choksi and his nephew, Nirav Modi, marking one of India’s biggest banking frauds to date.
2017: Foreign citizenship
Anticipating legal trouble, Mehul Choksi acquired citizenship of Antigua and Barbuda under its Citizenship by Investment Programme. This move gave him a legal foothold in a country without an active extradition treaty with India, raising concerns about his intent to evade justice.
January 2, 2018: Choksi flees India
On the eve of the scandal breaking in India, Choksi fled the country, initially flying to the United States before eventually settling in Antigua. The timing of his departure—just days before the scam surfaced—added to the controversy and suspicion surrounding the case.
2018: Choksi sued
The CBI and the ED registered formal cases against Choksi, Nirav Modi, and others in 2018. Over time, the ED conducted searches at 136 locations across India, seizing jewellery and valuables worth ₹597.75 crore linked to Choksi’s Gitanjali Group.
In total, assets worth ₹2,565.90 crore—including immovable properties in India and overseas, bank accounts, vehicles, a factory, shares of listed companies, and jewellery—were attached or seized in the case. Three Prosecution Complaints have been filed by the ED so far.
May 2019: Nirav Modi arrested in London
Nirav Modi, Choksi’s nephew and co-accused in the scam, was arrested by the Metropolitan Police in London in May 2019. Despite a prolonged legal battle, he has exhausted all legal avenues to challenge his extradition and continues to remain in UK custody, awaiting transfer to India.
2021: Choksi’s arrest in Dominica
In 2021, Choksi was detained in Dominica, allegedly while attempting to flee to Cuba by boat. His lawyers claimed he was abducted from Antigua and forcibly taken to Dominica. India formally sought his extradition, but Dominican authorities eventually deported him back to Antigua, rejecting India’s legal representation in court.
March 2023: Interpol enters:
In a major blow to India’s efforts, Interpol revoked the Red Notice against Mehul Choksi in March 2023, citing concerns about fair trial rights and possible political motivations. This complicated extradition efforts, as many countries rely on Red Notices to detain fugitives.
Early 2024: ‘Blood cancer’ and relocation
Earlier in 2024, Choksi’s legal team informed a special court in Mumbai that he was now in Antwerp, Belgium, undergoing treatment for blood cancer. Around the same time, he and his wife Preeti relocated from Antigua to Belgium, likely due to better medical facilities and to solidify their legal presence in Europe.
March 2024: Residency in Belgium
Just two weeks before his arrest in April 2025, Mehul and Preeti Choksi obtained an F Residency card in Belgium. Preeti, a Belgian citizen, and Choksi both have extended family ties in the country, which reportedly helped in securing their legal residency amid increasing pressure from Indian agencies.
April 2025: Choksi detained in Belgium
Mehul Choksi was detained in Belgium following a renewed extradition request by the CBI and ED. Though Interpol had earlier withdrawn its Red Notice against him, Indian agencies pursued legal alternatives, which ultimately led to his arrest.
Choksi’s legal team claims he has strong reasons to challenge the extradition request, citing health conditions.
Choksi is currently in custody, and efforts are underway to bring him back to India to stand trial in the multi-crore banking fraud case.
(By arrangement with livemint.com)
