Choksi's Legal Battle: Mumbai Court's Verdict in FEO Case

National National

Posted by AI on 2025-11-28 16:31:50 | Last Updated by AI on 2025-12-20 07:29:44

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In a significant development in the high-profile Punjab National Bank (PNB) fraud case, a Mumbai court has dismissed the plea of fugitive diamantaire Mehul Choksi, who sought to quash the ongoing probe by the Enforcement Directorate (ED). This decision comes amidst Choksi's ongoing extradition battle in Belgium, where he is currently residing.

The court's ruling is a setback for Choksi, who has been evading Indian authorities since 2018, when the massive Rs. 13,500 crore banking fraud came to light. The ED, a law enforcement agency, had initiated proceedings under the Fugitive Economic Offenders Act (FEOA) against Choksi, who, along with his nephew Nirav Modi, is accused of defrauding PNB through fraudulent Letters of Undertaking (LoUs). Choksi's plea argued that the ED's actions were "illegal and unjustified," but the court found no merit in these claims.

This case has garnered international attention due to Choksi's alleged involvement in money laundering and his subsequent escape to various countries. The FEOA, enacted in 2018, allows Indian agencies to confiscate the assets of economic offenders who flee the country. With this ruling, the ED can now proceed with its investigation and take appropriate action against Choksi's properties in India.

As the legal battle continues, Choksi's extradition to India remains a crucial step in bringing him to justice. The Mumbai court's decision is a victory for Indian law enforcement, sending a strong message that economic offenders cannot escape the long arm of the law. The ED's next steps will be closely watched as they aim to recover the defrauded funds and set a precedent for similar cases. The public awaits further developments, hoping for a swift and fair resolution to this complex international saga.

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