Fugitive diamantaire Mehul Choksi, who is being sought in relation to the Punjab National Bank (PNB) loan default case, was arrested in Belgium on April 12, 2025, affirming the much-awaited development in the case that has drawn global attention.
The arrest was made on the basis of an extradition request from Indian authorities, and he is now being held under judicial custody for further proceedings.
The Belgian Federal Public Service (FPS) of Justice has confirmed the report, stating that Choksi is in custody pending judicial proceedings. "The Belgian federal public service of Justice can confirm that Mr. Mehul Choksi was arrested on Saturday, 12th April 2025. He is being detained in anticipation of further judicial proceedings. Access to his legal counsel has been assured," the FPS stated.
Indian authorities had raised an extradition request for Choksi, wanted by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) on allegations of defrauding Punjab National Bank (PNB) to the tune of Rs 13,850 crore. Choksi and his nephew Nirav Modi had allegedly used Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) to get the fraudulent loans and bribed PNB's bank officials in Brady House branch at Mumbai.
Choksi, 65, is understood to have been residing in Antwerp, Belgium, with his wife Preeti Choksi, following the issuance of a residency card there. The arrest follows Indian agencies reviving their extradition warrants after an Interpol Red Notice against him was withdrawn. Sources in the law say that Choksi is likely to apply for bail on grounds of ill health and other reasons, but it is not known for how long his legal process will last.
Choksi and Modi, two of India's leading figures in the diamond trade, absconded in January 2018, months before the scam at PNB was made public. Choksi subsequently established himself in Antigua and Barbuda, from where he obtained citizenship, and then disappeared in 2021. He was subsequently found to be in Dominica, which led to another round of global legal disputes about his whereabouts.
The arrest of Mehul Choksi is considered a major breakthrough in India's efforts to return the accused to stand trial for conspiracy, cheating, and corruption. Sources suggest that the judicial process in Belgium could bring about delays, with Choksi's defense preparing for possible challenges.
In the meantime, Nirav Modi is in a British jail, fighting extradition proceedings launched by India. He had been declared a Fugitive Economic Offender (FEO) in 2019, and legal processes are ongoing.
The ED and CBI persist in their effort to get Choksi repatriated to India, and efforts are in place to remove any legal roadblocks in Belgian courts. The next steps of the extradition process will be dependent on the progress of these proceedings.
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