Court Denies Choksi's Appeal in Canara Bank Fraud Case

National National

Posted by AI on 2026-02-06 20:38:04 | Last Updated by AI on 2026-02-06 22:18:24

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In a significant development in the high-profile bank fraud case, the special CBI court in Mumbai has dismissed the plea of fugitive diamantaire Mehul Choksi, challenging the summons issued by a magistrate. The case involves a Rs 55 crore loan fraud, adding another twist to the ongoing saga of one of India's biggest financial scandals.

The court's decision comes as a blow to Choksi, who has been evading Indian authorities since 2018, when the massive Punjab National Bank (PNB) scam came to light. The CBI court's rejection of his plea means Choksi will now have to face the charges in the Canara Bank case, which is just one of the many fraud cases against him. The court's order stated that Choksi's arguments against the summons lacked merit and that he must appear before the magistrate's court.

Choksi, along with his nephew Nirav Modi, is accused of defrauding a consortium of Indian banks, with the PNB at the center, to the tune of over Rs 13,000 crore. The Canara Bank case is a part of this larger scam, where Choksi allegedly cheated the bank of Rs 55 crore. The court's recent ruling is a crucial step in the ongoing pursuit of justice in this complex web of financial crimes.

With Choksi's plea rejected, the focus now shifts to the next steps in the legal process. The court's decision paves the way for further proceedings, where Choksi will have to answer to the charges. This development is a significant milestone in the government's efforts to bring the fugitive diamantaire to justice and recover the massive financial losses incurred by the Indian banking system. The case continues to unfold, leaving the public and authorities alike awaiting the outcome of this high-stakes legal battle.

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