Diabytes
Mehul Choksi News
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A major setback for fugitive diamantaire Mehul Choksi as an Antwerp court has approved his extradition to India, ruling that his arrest by Belgian authorities on New Delhi’s request was valid. This development brings India a step closer to securing his return.
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Mehul Choksi was arrested in Belgium in April following a formal request from Indian authorities. He and his nephew, Nirav Modi, are the primary accused in the PNB fraud case, which involves fraudulent transactions.
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The amount is related to a penalty imposed on him for violating insider trading rules in the shares of Gitanjali Gems.
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Mehul Choksi further contends that the authorities not only disregarded due process but also violated his fundamental rights, contravening the principles of natural justice.
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Mehul Choksi was among those booked by the CBI and the ED in 2018 for perpetrating the alleged loan fraud at the Brady House branch of the Punjab National Bank (PNB) in Mumbai.
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Mehul Choksi was apprehended by Belgian authorities on Saturday after his presence in the country was officially verified.
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Mehul Choksi fled India in 2018, initially travelling to the United States before settling in Antigua. A year prior, in 2017, he had acquired Antiguan nationality.
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Mehul Choksi Arrested: Punjab National Bank scam whistleblower said that the process is not going to be smooth for India as Choksi not only has a lot of money but also a fleet of good lawyers.
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Mehul Choksi left India in January 2018, shortly before the Punjab National Bank (PNB) scam was exposed.
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Reports indicate that Mehul Choksi may be considering relocating to Switzerland for medical treatment at Hirslanden Klinik Aarau, a cancer hospital.
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Mehul Choksi, a once-prominent Indian diamantaire and owner of the Gitanjali Group, allegedly played a central role in defrauding PNB of over Rs 12,000 crore alongside his nephew, Nirav Modi.
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Nirav Modi and his uncle Mehul Choksi are the main accused in the PNB scam.
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Mehul Choksi is well-known for the Punjab National Bank (PNB) scam, in which the public sector bank was defrauded of more than Rs 13,500 crore.
Along with his nephew, Nirav Modi, he is charged with being the scheme's creator.
The PNB scandal is centered on the Gitanjali Group, a retail jewelry company with about 4,000 outlets in India.
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Fugitive Mehul Choksi is wanted in India in connection with a Rs 13,000-crore fraud in the Punjab National Bank (PNB).
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Interpol announced a big decision over Mehul Choksi. As per altest reports, Interpol has removed Mehul Choksi from Red Corner Notice list. Now Congress President Mallikarjun Kharge has given a big statement regarding this besieging the central government.
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Interpol has taken a big decision regarding Mehul Choksi. In a major action, Interpol has removed the Red Corner Notice against fugitive Mehul Choksi. Mehul's lawyer had appealed regarding this, after which Interpol has taken the decision
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The Central Bureau of Investigation (CBI) remained tight-lipped on the development. The Red Notice is highest form of alert issued by the 195-member country-strong Interpol to law enforcement agencies worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
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Sebi today barred fugitive businessman Mehul Choksi from the securities markets for 10 years
Sebi also imposed a fine of Rs 5 crore on Choksi for indulging in fraudulent trading
Mehul Choksi was the chairman and managing director as well as part of promoter group of Gitanjali Gems
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The Canara Bank and the Bank of Maharashtra had sanctioned Rs 30 crore and Rs 25 crore respectively.
The company did not repay the loan, causing a loss of Rs 55.27 crore to the consortium.
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This is the first prosecution complaint filed by the federal agency against Choksi's wife Priti Pradyotkumar Kothari.
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