Fugitive businessman Mehul Choksi (File photo)

NEW DELHI: Fugitive diamond merchantMehul Choksi, a key accused in the Rs 14,000-crore Punjab National Bank fraud case, was arrested on Saturday by Belgian authorities on India’s extradition request.
Choksi’s arrest was based on two non-bailable warrants issued by a Mumbai court, dated May 23, 2018, and June 15, 2021, according to people familiar with the development.
Indian officials had earlier asked Belgium to initiate extradition proceedings after locating Choksi in the country. Sources said he was allegedly planning to move to Switzerland for medical treatment at a cancer hospital.
In 2018, Mehul Choksi, his nephew Nirav Modi, along with their family members, employees, and several bank officials, were booked by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) in connection with the multi-billion-dollar fraud at Punjab National Bank’s Brady House branch in Mumbai.