New Delhi: Hariprasad SV, the whistle-blower in the Punjab National Bank (PNB) scam, has welcomed the arrest of fugitive business executive Mehul Choksi by Belgian law enforcement, acting on a request from India’s Central Bureau of Investigation (CBI).
Hariprasad called the development “great news” for India and the victims of the massive fraud.
“Mehul Choksi’s arrest in Belgium is a big step forward—not just for India, but for everyone he defrauded. “The government must ensure his immediate extradition and bring him to justice,” he said.
He also emphasised the need to recover the billions allegedly syphoned off by Choksi. “It’s not just about bringing him back—it’s about retrieving the public money he looted and possibly hid across the globe. “Hopefully, this time, the Indian government will succeed,” Hariprasad added.
Hariprasad had first raised concerns about irregularities in the bank’s balance sheets back in July 2016. In a letter addressed to the Prime Minister’s Office (PMO), the Bengaluru-based entrepreneur flagged signs of a potential large-scale fraud.
Choksi, a 65-year-old diamond merchant, is accused of defrauding Punjab National Bank to the tune of ₹13,850 crore in collusion with his nephew Nirav Modi. Both are wanted by the CBI and Enforcement Directorate (ED).
He fled India in January 2018 and obtained citizenship in Antigua in 2017. Choksi was previously arrested in Dominica in 2021, allegedly while attempting to flee to Cuba, but his legal team claimed he was kidnapped from Antigua. Despite India’s efforts, he was deported back to Antigua.
Choksi reportedly travelled to Belgium for cancer treatment and was recently arrested there. Belgian authorities are now said to be preparing for his extradition to India, although Choksi’s legal team is expected to challenge the move. His lawyers have cited health concerns as part of their opposition to the extradition request.
According to investigators, between 2014 and 2017, Choksi, in connivance with his associates and certain PNB officials, fraudulently secured Letters of Undertaking and Foreign Letters of Credit, causing a wrongful loss of ₹6,097.63 crore to the bank.
