ANTWERP — In what officials hailed as a “crucial milestone,” a Belgian court on Friday approved the extradition of fugitive diamond merchant Mehul Choksi to India, validating his arrest earlier this year and paving the way for his possible return to face charges in one of India’s largest banking scandals.
The 66-year-old businessman, accused of orchestrating a ₹13,000 crore fraud at Punjab National Bank (PNB), now has 15 days to appeal the ruling before Belgium’s Supreme Court. The decision, celebrated by Indian authorities as a triumph of persistence, follows months of courtroom battles and diplomatic negotiations.
Should the appeal fail, Choksi could be placed on a flight to Mumbai, closing a chapter that has strained bilateral ties, tested India’s extradition diplomacy, and shaken public confidence in its financial institutions.
The Long Pursuit of a Fugitive
Choksi, arrested by Antwerp police on April 11 after a formal request from India’s Central Bureau of Investigation (CBI), has been held in custody for over four months. His repeated bail pleas were denied, with the court labeling him a substantial flight risk.
During the latest hearing, Belgian prosecutors representing New Delhi clashed with Choksi’s defense team, arguing that the charges—ranging from criminal conspiracy and cheating to corruption—met Belgium’s dual criminality standard. The offenses, outlined under IPC Sections 120B, 201, 409, 420, and 477A, and the Prevention of Corruption Act, are also punishable under Belgian law
India’s case, fortified by international conventions against organized crime and corruption ratified by Belgium, cited six instances of bank fraud between 2018 and 2022 involving fraudulent Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) that triggered a ₹6,344.97 crore default at PNB.
CBI teams made three visits to Antwerp, engaging a European law firm and submitting documentary evidence, including transaction trails and witness testimonies.
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The Citizenship Dispute
A central point of contention was Choksi’s citizenship. He claims to have renounced Indian nationality in December 2018, a year after acquiring Antiguan citizenship. India, however, maintained that the renunciation was incomplete and unacknowledged by New Delhi, rendering him still an Indian citizen and extraditable.
To address humanitarian concerns raised by his legal team, India’s Ministry of Home Affairs issued detailed assurances about his treatment upon return. The ministry pledged that Choksi would be detained in Mumbai’s Arthur Road Jail, Barrack No. 12, under conditions meeting the European Committee for the Prevention of Torture standards.
Authorities outlined provisions for clean water, balanced meals, medical care, newspapers, television, and no solitary confinement. The cell would include a cotton mat, pillow, bedsheet, and blanket, with an optional metal bed for medical reasons, and access to outdoor recreation and indoor games like chess, carrom, and badminton.
A Decade-Long Shadow Over India’s Financial System
The extradition order caps an eight-year pursuit since Choksi fled India in January 2018, days before the PNB fraud was publicly exposed. His nephew, Nirav Modi, faces parallel extradition proceedings in the United Kingdom.
Officials in New Delhi view the verdict as a symbolic assertion of accountability in cross-border financial crimes—a demonstration that India’s pursuit of economic offenders will not be easily evaded. If the Belgian Supreme Court upholds the ruling, Choksi’s return could mark a defining moment in India’s broader effort to restore trust in its financial institutions—and to ensure that those who flee the law cannot forever escape it.
