In a recent court hearing in Mumbai, a lawyer representing Mehul Choksi, the accused in the Punjab National Bank (PNB) loan fraud case, informed a special court that his client is believed to be suffering from cancer and is currently undergoing medical treatment in Belgium.
Advocate Vijay Aggarwal, appearing before Special Court Judge S. M. Menjoge, made a request to submit an application detailing Choksi’s health issues. Aggarwal stated that his client was in Belgium for medical treatment and suspected to have cancer. This was mentioned during the ongoing hearing of a plea by the Enforcement Directorate (ED) seeking to declare Choksi a Fugitive Economic Offender (FEO).
The case involves a multi-crore fraud allegedly carried out by billionaire jeweller Nirav Modi and his uncle, Mehul Choksi, the promoter of Gitanjali Gems. Both individuals are accused of obtaining fraudulent Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs) amounting to Rs 12,636 crore, which were issued in favour of foreign branches of Indian banks.
Nirav Modi, who is also accused in the fraud, was declared an FEO by a special court in December 2019. His extradition process is currently underway.
In 2019, the ED moved an application before the special PMLA (Prevention of Money Laundering Act) court, requesting Choksi be declared an FEO under the Fugitive Economic Offenders Act, 2018. The law allows for the confiscation of properties of individuals who flee the country after committing financial crimes involving over Rs 100 crore.
In September 2023, the Bombay High Court dismissed Choksi’s pleas, which challenged the ED’s application to declare him an FEO. Choksi’s lawyer had argued that his client was not refusing to return to India but was unable to do so due to his health condition. He referenced a 2021 ruling by the Eastern Caribbean Supreme Court in Dominica, which allowed Choksi bail for travel to Antigua and Barbuda for specialised treatment of neurological ailments.
-
-
-
-
-
-
