In another setback to fugitive diamantaire Mehul Choksi, a Belgian court of appeal has once again denied bail to him. Choksi is a key accused in the multi-crore rupee Punjab National Bank (PNB) loan fraud case. The decision comes just days before his extradition hearing, scheduled for mid-September.
ANI quoted sources, who indicated that the court was persuaded by arguments from India’s Central Bureau of Investigation (CBI), which emphasised Choksi’s history of evading legal proceedings across multiple jurisdictions. The CBI submitted that if granted bail, Choksi posed a significant flight risk and could potentially flee to another country.
Notably, 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. In addition to this case, Choksi is reportedly wanted in connection with several other unrelated bank fraud investigations.
His Indian counsel, Vijay Aggarwal, was seen in Antwerp ahead of the bail hearing and visited Choksi in custody in April. Following the arrest, Aggarwal announced plans to appeal the court’s decision, citing Choksi’s deteriorating health and ongoing cancer treatment. “My client is currently in custody. We intend to file an appeal, stressing his medical condition and the fact that he poses no flight risk,” Aggarwal told ANI.
At a press conference in Delhi, Aggarwal outlined the defence’s strategy to oppose extradition on two primary grounds: the politically motivated nature of the case and concerns over Choksi’s medical treatment in India. He argued that extradition could violate Choksi’s human rights due to inadequate healthcare and potential political harassment.
Aggarwal emphasised that Choksi has not been officially declared a fugitive and has cooperated with Indian investigative agencies. He noted that Choksi has repeatedly offered to participate in investigations via video conferencing, citing his inability to travel due to health issues. “He is willing to join the investigation virtually. Several applications have been submitted to facilitate this, but his medical condition prevents him from returning to India,” Aggarwal added.
Choksi faces charges under various sections of the Indian Penal Code (IPC), including criminal conspiracy, cheating, and falsification of accounts, as well as provisions of the Prevention of Corruption Act. These offences are also recognised as crimes under Belgian law, thereby enabling the application of the dual criminality clause of the extradition treaty in India’s request for his extradition.
Additionally, the CBI has cited the United Nations Convention against Transnational Organised Crime (UNTOC) and the United Nations Convention against Corruption (UNCAC) to strengthen its extradition plea.
Earlier on June 6, the Securities and Exchange Board of India (SEBI), directed banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Indian businessman Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. Directions to CEOs of banks and Mutual Funds of India were issued in this regard.
(With Inputs From ANI)
