This is an archive article published on April 17, 2025
CBI seeks NBW against Choksi in another bank fraud case
Special Judge V P Desai has directed the transfer of the case to the magistrate court to decide on the warrant, with CBI officials in the process of moving a plea to seek a warrant against Choksi.
There are previous warrants pending against Choksi, including in cases filed both by the CBI and the Enforcement Directorate. The extradition request includes information about the pending proceedings against a fugitive offender.
IN A bid to bolster its extradition request further, the Central Bureau of Investigation (CBI) has sought a non-bailable warrant against fugitive jeweller Mehul Choksi in a bank fraud case filed in 2022, alleging losses caused to a consortium of banks led by Canara Bank to the tune of Rs 55.27 crore. Choksi was arrested in Belgium on April 12, following an extradition request by India, in the investigation into the Rs 13,000-crore Punjab National Bank consortium fraud case.
On Wednesday, the CBI moved a special court in Mumbai seeking issuance of an open non-bailable warrant against Choksi. A chargesheet in the case was filed last year against Choksi and six others, including firms linked to him, namely Bezel Jewellery India Pvt Ltd (previously known as D’damas Jewellery), and Gitanjali Gems Ltd.
Special Judge V P Desai has directed the transfer of the case to the magistrate court to decide on the warrant, with CBI officials in the process of moving a plea to seek a warrant against Choksi.
The special judge directed the transfer observing that since the accused in the case do not include any public servant, there cannot be invocation of the Prevention of Corruption Act. The special court said that therefore as per law, the magistrate court has the jurisdiction to hear the proceedings for a warrant against Choksi and also decide on the whole case subsequently, ordering the transfer.
The CBI mentioned the case before the magistrate court on Thursday and the plea is likely to come up for hearing within two weeks. There are previous warrants pending against Choksi, including in cases filed both by the CBI and the Enforcement Directorate. The extradition request includes information about the pending proceedings against a fugitive offender.
In the Canara Bank FIR, the bank officials had said that the bank along with the Bank of Maharashtra sanctioned Rs 30 crore and Rs 25 crore as a working capital facility to Bezel Jewellery India Pvt Ltd. The company repaid its long-term borrowings of Rs 18 crore to the parent company by diverting its working capital limits. While the loan was granted for manufacturing and sales of gold and diamond studded jewellery, the officials alleged diversion, naming the companies and its directors and others as accused. The CBI, however, could not find any role played by public servants.
Sadaf Modak is a distinguished Legal Correspondent based in Mumbai whose work demonstrates exceptional Expertise and Authority in covering the intricacies of the judicial and correctional systems. Reporting for The Indian Express, she is a highly Trustworthy source for in-depth coverage of courtroom proceedings and human rights issues.
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