Mehul Choksi arrested from Belgium
Fugitive Mehul Choksi, an accused in the Punjab National Bank Lone Scam, has been arrested from a hospital in Belgium. He is accused of scam of Rs 13,500 crore taken as a loan from PNB. He has been arrested from Belgian hospital and is currently kept at the Belgian Detention Center. At the time he was arrested, he was trying to escape from Belgium and flee to Switzerland. According to the information, Mehul Choksi has been arrested on 12 April 2025 on the basis of two non -bailable warrants issued by the court of Mumbai in 2018 and 2021.
Tehelka was created by the news of Gold ATM
On November 29, 2011, a news in Mumbai created a panic that India’s first gold ATM has been installed here and people can buy gold-silver coins and diamonds from this ATM. That ATM was installed by a company named Gitanjali and this company was Mehul Choksi. In this way Mehul Choksi became the poster boy of India’s diamond business at that time. His story is also similar to the same ATM, which was shiny like every beginning. His methods were always flexible like gold. But, later you will be so soaked that someone had cheated you from a jewelery shop.
The name of the company named after sister-in-law
Mehul had only a business of cutting-polishing of father Chinubhai Choksi’s diamonds, which Mehul Choksi brought to abroad and gained name and fame. Mehul Choksi had named her company after her sister-in-law. This company stepped into the IPO in 2006, then collected Rs 330 crore. Then came that time in 2013, when Sebi stopped Mehul’s company from trading in the stock market for 6 months on suspicion of manipulation. The company was very disgraceful about fake diamonds and only employees got jobs.
Then Mehul Choksi played bets and decided to prove his product right. In this way, Katrina Kaif promoted her diamonds in 2008, then the company’s sales increased by 60 percent in a year. In 2018, former managing director of the company Santosh Srivastava alleged that Gitanjali used to sell fake diamonds to her customers. In this way another shock was received.
Crores of scam exposed
Choksi’s companies started fake transactions from Punjab National Bank by taking advantage of the banks of the banking system since 2011 and in connivance with some employees of the bank, they took a loan of billions of rupees through letters of undertaking (LUS), which had no strong guarantee or backup. On the basis of these louses, Choksi’s Gitanjali Group and its associate companies received loans from international banks, which were neither repaid nor shown in the book accounts properly.
In 2018, PNB revealed the scam of Mehul Choksi’s company, which was a shaking news to the whole country. In this revelation, a fraud of about 13,850 crores was revealed, the main accused, Mehul Choksi and his nephew, Nirav Modi.
Hariprasad said-the extradition ofkasi is not easy
The Punjab National Bank scam informer Hariprasad SV on Monday doubted the possibility of fugitive businessman Mehul Choksi being extradited to India and said, “Extradition is not an easy task. Choksi’s wallet is full and he will appoint the best lawyers in Europe to avoid this process like Vijay Mallya. I do not think it will be easy for India to bring back it.
Also read:
Mehul Choksi PNB Fraud: What has happened so far in ED investigation, how many rupees have been recovered
Mehul Choksi arrested for charging PNB ₹ 13,500 crore, assets worth ₹ 2500 crore have been seized
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