In a significant development in India’s pursuit of fugitive businessman Mehul Choksi, Belgian authorities arrested him on Saturday, April 12, 2025, following a renewed extradition request from the Indian government. This marks a crucial breakthrough in the years-long effort to bring him to justice in one of India’s biggest banking fraud cases.
Arrest in Belgium
Sources cited by ANI confirmed that Choksi, who had been residing in Belgium with his wife Preeti, was apprehended after Belgian law enforcement confirmed his presence in the country. Reports indicate that Choksi had even obtained a Belgian ‘residency card’ weeks prior to his arrest, potentially as part of a broader legal strategy to avoid extradition.
Although he is now in custody, Choksi is preparing for a fresh legal battle. His defense team is expected to seek bail and contest the extradition on several grounds, including his deteriorating health. The legal team claims he is battling a serious medical condition and plans to argue that extraditing him would violate his rights.
Timeline of Events
2014–2017: The Fraud Surfaces
Choksi, then owner of the Gitanjali Group, allegedly orchestrated a massive banking scam in collaboration with officials at the Punjab National Bank (PNB). Using fraudulently obtained Letters of Undertaking (LOUs) and Foreign Letters of Credit (FLCs) without following protocol, he and his associates raised overseas credit. This scheme resulted in a direct loss of ₹6,097.63 crore to PNB. Together with his nephew Nirav Modi, Choksi is accused of defrauding banks to the tune of ₹13,850 crore, making it one of India’s largest financial scandals.
2017: Citizenship of Antigua Secured
Sensing impending legal trouble, Choksi obtained citizenship of Antigua and Barbuda under its Citizenship by Investment Program. The country has no active extradition treaty with India, a move widely seen as a calculated effort to evade prosecution.
January 2, 2018: Flight from India
Just days before the scam came to light, Choksi fled India, first heading to the United States and eventually settling in Antigua. His sudden departure added fuel to speculation that he had inside knowledge of the investigation’s progress.
2018: Indian Agencies Take Action
That year, the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) formally filed cases against Choksi and Nirav Modi. The ED launched massive operations, conducting raids at over 136 locations linked to the Gitanjali Group and seizing jewellery and valuables worth ₹597.75 crore.
In total, Indian authorities attached or seized assets worth ₹2,565.90 crore, including real estate in India and abroad, bank accounts, vehicles, shares in listed companies, and factory properties. The ED has filed three prosecution complaints in the case so far.
May 2019: Nirav Modi Arrested
Nirav Modi was arrested by the Metropolitan Police in London. After a prolonged legal fight, he has exhausted all options to contest his extradition and remains in custody, awaiting deportation to India.
2021: Choksi Detained in Dominica
In a dramatic twist, Choksi was detained in Dominica in 2021, allegedly while trying to escape to Cuba by boat. His legal team claimed he had been abducted from Antigua and forcibly taken to Dominica. Despite India’s formal extradition request, Dominican courts rejected it, and he was ultimately deported back to Antigua.
March 2023: Interpol Revokes Red Notice
India’s efforts suffered a major setback when Interpol revoked its Red Notice against Choksi in March 2023. The decision was reportedly based on concerns regarding his right to a fair trial and possible political motivations behind India’s pursuit. The absence of a Red Notice made detaining him internationally more challenging.
Early 2024: Health Concerns and Move to Belgium
In early 2024, Choksi’s legal representatives informed a Mumbai court that he was undergoing treatment for blood cancer in Antwerp, Belgium. Around this time, he and his wife Preeti left Antigua and moved to Belgium, citing better healthcare facilities and aiming to strengthen their legal standing within the European Union.
March 2024: Legal Residency Secured
Two weeks prior to his arrest, the couple obtained an “F Residency Card” in Belgium. Preeti Choksi, who holds Belgian citizenship and has extended family ties in the country, reportedly played a key role in facilitating this legal status.
April 2025: Choksi Arrested, India Renews Extradition Bid
Despite Interpol’s withdrawal of the Red Notice, Indian agencies continued diplomatic and legal efforts through alternate channels. Their persistence paid off in April 2025 when Belgian authorities detained Choksi based on India’s latest extradition request.
He remains in custody in Belgium, as Indian officials work to complete legal formalities to bring him back to India to face trial. While his defense team is preparing a robust legal strategy to challenge the extradition, Indian agencies remain determined to ensure justice in the multi-crore scam.
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