Fugitive businessman Mehul Choksi is reported to be living in Antwerp, Belgium with his wife, Preeti Choksi, after obtaining an 'F Residency Card' in the country. This information spotlights the ongoing complexities surrounding his controversial legal status as Indian authorities make efforts to secure his extradition.
Choksi, who is accused of defrauding Punjab National Bank (PNB) of a staggering ₹13,500 crores (approximately $1.8 billion), left India in January 2018 amid allegations of involvement in one of India's largest financial fraud cases. His departure from India came shortly after he and his nephew Nirav Modi were implicated in the scandal that involved fraudulent letters of undertaking submitted to the PNB's Brady House branch in Mumbai.
Recently, reports surfaced claiming that Belgian authorities were urged by their Indian counterparts to proceed with Choksi's extradition following the revelation of his whereabouts. According to a report from the Associated Times, a Caribbean-focused media outlet, Choksi acquired residency in Belgium on November 15, 2023, allegedly with the assistance of his wife, who holds Belgian citizenship.
However, the residency was not obtained through conventional means. Details have emerged that Choksi reportedly submitted misleading and fabricated documentation to the Belgian authorities. He allegedly misrepresented his nationality during the application process, failing to disclose his existing citizenship of India and Antigua, compounding the legal challenges he faces.
Choksi had been thought to be residing in Antigua and Barbuda prior to his recent move to Belgium. Antigua and Barbuda’s Foreign Minister, EP Chet Greene, confirmed that Choksi is no longer on the island, but did not disclose his exact location, mentioning that it was purportedly for medical attention.
Indian officials have been closely monitoring Choksi's moves as they seek to classify him as a 'fugitive economic offender' within the framework of Indian law. This designation would allow Indian authorities to confiscate his assets and seek his return to face charges. In a court hearing back in May 2023, Choksi claimed that circumstances beyond his control impeded his return to India, contesting the accusations that he is deliberately avoiding prosecution.
Choksi's case escalated in May 2021 when he mysteriously disappeared from Antigua, leading to speculations that he had been abducted by Indian agents—a claim that was debunked after he was located in Dominica. After being arrested for unlawful entry, he managed to return to Antigua under medical grounds with interim bail.
Additionally, the Indian authorities’ scrutiny intensified after Finance Minister Nirmala Sitharaman revealed in December 2023 that assets valued at ₹22,280 crores had been recovered or liquidated to settle debts involving wanted individuals, including Choksi. Amidst legal battles and ongoing extradition discussions, Choksi's potential plans to relocate to Switzerland on health grounds continue to generate speculation about his motives and future actions.
While Choksi seeks to justify his actions in court, the enforcement agencies in India remain unyielding in their determination to recapture him. As India grapples with the implications of high-profile fraud cases, the unfolding situation highlights the complexities and global reach of economic crimes.
As the investigation continues to develop, both the public and the legal community will be keenly watching the response of the Belgian authorities to India's extradition request. With Choksi at the center of a sprawling financial scandal, the implications of his eventual fate might reverberate through the financial systems of countries involved.
