Belgian court denies fresh bail appeal for Mehul Choksi, a significant figure implicated in the PNB fraud case
Mehul Choksi, a key suspect in a more than ₹6300-crore fraud case at Punjab National Bank (PNB), is set to have his extradition case heard in a Belgian court in mid-September.
The Central Bureau of Investigation (CBI) is coordinating with a European law firm to assist the Belgian prosecutors in presenting the case for Choksi's extradition to India. The name of the European law firm supporting the Belgian authorities has not been disclosed.
In a bid for freedom, Choksi submitted a fresh bail application on August 22, proposing to be placed under house arrest with home surveillance. However, the court dismissed his bail plea while citing his past attempts to evade law. The Court of Cassation in Belgium had previously turned down Choksi's previous bail application.
The CBI dispatched a team to Brussels to provide the Belgian prosecution with case details, evidence, and documents. The fraud was allegedly orchestrated through fraudulent Letters of Undertaking in collusion with certain bank officials at the Brady House branch in Mumbai.
Choksi faces charges under various sections of the Indian Penal Code (IPC), including criminal conspiracy, cheating, and falsification of accounts. The CBI has referenced the United Nations Convention against Transnational Organised Crime (UNTOC) and the United Nations Convention against Corruption (UNCAC) in its extradition request.
The extradition case for Choksi, who owns the Gitanjali Group, is significant as these charges are also recognized in Belgium, supporting the invoking of the dual criminality clause in the extradition treaty.
Notably, Nirav Modi, another fugitive economic offender, has been imprisoned in London since his arrest in 2019 in connection with the same ₹13,000 crore fraud at PNB.
The CBI will support the Belgian prosecution in presenting a robust case to have Choksi extradited to India. Indian authorities have shared at least two open-ended arrest warrants, issued by a special court in Mumbai in 2018 and 2021, with their Belgian counterparts as part of the extradition process.
The court's decision to reject Choksi's bail plea was based on compelling reasons provided by the CBI to the Belgian authorities. The CBI plans to engage a European law firm to assist in the extradition process. Choksi was arrested in April after the CBI sent an extradition request.
The upcoming hearing in mid-September promises to be a crucial step in the long-running saga of the PNB fraud case, with the Belgian court set to decide on Choksi's extradition to India.
