logo
Mehul Choksi suffers fresh legal blow as Belgian court adjourns second plea contesting arrest

Mehul Choksi suffers fresh legal blow as Belgian court adjourns second plea contesting arrest

Mint29-04-2025

A Belgian court has adjourned the hearing on a second plea filed by fugitive diamond merchant Mehul Choksi, demanding his immediate release and contesting his arrest, citing procedural irregularities.
He was arrested by Belgian authorities earlier this month following an official request from Indian authorities for his extradition.
Choksi, a key accused in the ₹ 13,500 crore Punjab National Bank loan fraud case, claimed that Belgian authorities failed to adhere to the prescribed legal procedures during his arrest.
In his plea before the Belgian Court of Appeal, he also said that the authorities disregarded due process and violated his fundamental rights, contravening the principles of natural justice.
This development comes just days after the Belgian court rejected Choksi's bail plea in the same case.
Last week, a court in Belgium denied the bail plea of Mehul Choksi.
A three-judge bench heard arguments in Dutch before ruling against granting bail.
Choksi's lawyer Vijay Aggarwal told news agency ANI that Belgian law allows multiple bail applications.
"Unfortunately, my client has been denied bail today. However, in Belgium, we can apply for bail as many times as needed. We will carefully consider the court's observations and submit a fresh bail plea on new grounds soon," Aggarwal said.
He also reiterated that Choksi's legal team would contest his extradition on two main grounds--the political nature of the case and concerns regarding his medical condition and treatment in India.
He earlier stated that Choksi has cooperated with Indian investigative agencies and has repeatedly offered to join the investigation via video conferencing due to his health issues.
Earlier, Choksi's legal team had also pointed out procedural prerequisites for extradition, including the issuance of non-bailable warrants since 2018.
Previous attempts to extradite Choksi from Dominica had failed, and Choksi had been receiving medical treatment in Antigua before travelling to Belgium for cancer care, said Aggarwal.
The next date for the hearing has not yet been notified.
First Published: 29 Apr 2025, 06:15 PM IST

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Meet Kishin RK, Indian CEO who bought his first home at age 12, started business at 18, now is Singapore's youngest billionaire, his net worth is Rs…, business is…
Meet Kishin RK, Indian CEO who bought his first home at age 12, started business at 18, now is Singapore's youngest billionaire, his net worth is Rs…, business is…

India.com

time38 minutes ago

  • India.com

Meet Kishin RK, Indian CEO who bought his first home at age 12, started business at 18, now is Singapore's youngest billionaire, his net worth is Rs…, business is…

At just 42 years old, Kishin RK has become Singapore's youngest billionaire in 2025. He is the CEO of RB Capital Group, a major real estate company. Though he is the only son of well-known Indian-origin property tycoon Raj Kumar Hiranandani, Kishin's success is not just about family wealth. His story is about taking bold steps and building his own path in the real estate world. A very early start in real estate Kishin's journey in property began when he was just 12 years old. With his father's help, he bought his first property. By the time he turned 18, he sold an apartment his parents had gifted him and used the money to start RB Capital in 2006. That was the moment he began his own business journey. Today, RB Capital owns some of the most valuable hotels, offices, and shopping centres in top Asian cities. Real estate was always his true passion Kishin once thought about working in finance or the food business, but real estate always drew him back. In an interview with Tatler Asia, he said that while other jobs sounded interesting, the idea of building something long-lasting in real estate was far more exciting. Family legacy to building his own real estate empire Though Kishin RK was born into a successful real estate family, he always aimed to build his own identity in the industry. His father's company Royal Holdings being a well-known name in Singapore and instead of simply continuing what his family had already done, Kishin wanted to do something different. When he founded RB Capital, his focus was not just on buying properties but it was about creating new. This fresh approach helped him stand out and gave RB Capital a unique place in the real estate world. Under Kishin's guidance, RB Capital has developed several impressive commercial and hotel properties, including popular places like the InterContinental Singapore Robertson Quay and Holiday Inn Singapore Little India. Key turning point Kishin officially joined the family business in 2003, but a major shift happened in 2011, when his father and uncle split their real estate assets. After that, Kishin and his father teamed up and built a powerful partnership. Together, they now manage a portfolio worth nearly USD 10 billion, making them one of the strongest real estate duos in Singapore. In 2024, they took their ambitions beyond Singapore by launching a family office in Abu Dhabi, called the RB Family Office. This new base helped them grow their investments across the Middle East. Kishin RK's net worth According to Forbes 2025, Kishin RK has become Singapore's youngest billionaire, with an estimated individual net worth of USD 1.6 billion. He is the only son and heir of Raj Kumar Hiranandani, a respected Indian-origin real estate tycoon. Forbes also reports that together, Kishin and his father Raj Kumar now hold a combined net worth of around USD 3.15 billion, making them one of the most influential real estate families in the region.

Cheaper home and car loans: India Inc gets a booster and fire power to drive growth
Cheaper home and car loans: India Inc gets a booster and fire power to drive growth

Time of India

time41 minutes ago

  • Time of India

Cheaper home and car loans: India Inc gets a booster and fire power to drive growth

Borrowing costs at India's two most rate-sensitive sectors - property and automobiles - are set to head South soon after the central bank Friday made its steepest rate cut since March 2020 and promised ample liquidity in the shape of the lowest cash reserve ratio (CRR) on record. The Nifty Realty index surged nearly 5%, even dwarfing gains for financial stocks, reflecting the likely impact of the big-bang policy moves on home purchases. Home, personal, and car loans tied to external benchmarks, such as the repo rate, will see an immediate downward reduction. However, loans tied to the marginal cost of funds-based lending rate (MCLR), like corporate exposures, will take longer to head lower. Policy action, Reserve Bank of India ( RBI ) Governor Sanjay Malhotra said, is geared toward boosting broader credit demand for which monetary support is a "necessary condition", although not sufficient. "We see this as an opportunity to step up credit deployment, especially towards productive sectors and retail demand, while continuing to support MSMEs, retail, agri, and other priority segments," said Ashok Chandra, MD & CEO of Punjab National Bank . On Friday, the RBI reduced the benchmark repo rate by 50 basis points to 5.5%, taking the total cut to 100 bps in the current rate easing cycle that began in February. Furthermore, the RBI also reduced the CRR or the funds lenders must park with the RBI, by a percentage point starting September, promising to add $30 billion of liquidity in phases and helping reduce borrowing costs. Before the cut, State Bank of India , the largest mortgage lender, was charging 8-8.65% interest on home loans . As per a Paisabazaar analysis, if the home loan rate falls to 7.5%, a loan of ?75 lakh with a tenure of 20 years would see EMI fall to ?60,419 a month. At 8% a borrower would pay ?62,733 as monthly interest payout. Hot Property Stocks such as Godrej Properties , Oberoi Realty , DLF and Prestige surged between 5% and 6.75% on unusually large volumes, overshadowing gains at large financiers that are expectedly the biggest gainers from the policy moves Friday. The Nifty Automobile index climbed 1.5%, with truckmaker Ashok Leyland leading the list of gainers at 3.6%. The RBI's decision is also expected to help improve housing affordability and prop up demand for residential properties across the country, especially in the mid-income and affordable housing segments, experts said. With home loan rates likely to ease following this rate reduction, realty developers are optimistic about a fresh wave of end-user activity. "The rate cut is expected to bring down home loan interest rates, improving affordability and widening access to homeownership. This could provide a meaningful push for first-time buyers and households looking to upgrade, especially in price-sensitive urban and suburban markets. We expect this move to translate into increased enquiries and faster decision-making in the coming months," said Deepak Goradia, chairman of Dosti Realty. Lower borrowing costs could also unlock fence-sitter demand in tier II and III cities, where salaried buyers are highly rate-sensitive.

UAE Launches New Digital System To Simplify Work Permits For Foreign Workers
UAE Launches New Digital System To Simplify Work Permits For Foreign Workers

NDTV

time41 minutes ago

  • NDTV

UAE Launches New Digital System To Simplify Work Permits For Foreign Workers

In a significant initiative set to benefit thousands of Indian job seekers, the United Arab Emirates (UAE) has rolled out a new digital service aimed at making the recruitment process for foreign workers faster and more efficient. The initiative is part of the country's broader push towards digital transformation in public services. The Ministry of Human Resources and Emiratisation (MoHRE) announced that employers can now apply for work permits directly through its official website or mobile application. This new system replaces manual procedures with an updated, streamlined platform designed to improve accessibility and reduce processing time. According to a report by Gulf News, the digital platform will allow companies to select a bundled service package that includes the job offer, employment contract, and initial work permit approval. Employers can also receive real-time updates based on the availability of employment quotas and preferred notification types. For applications submitted through business service centres, digital signature verification will be required. However, this step will not apply to users submitting applications through the smart app. One of the key enhancements in the system is the use of artificial intelligence (AI) for document verification. Employers will need to provide key details such as salary, working hours, and job location, along with uploading relevant documents. In cases where applications are filed through business centres, applicants' identity details will be verified using ID card readers. Once all necessary information and documents are submitted, employers can review the application and proceed to the payment phase. The move is expected to make the process of hiring overseas talent - especially from countries like India - significantly smoother. Cities such as Dubai, Abu Dhabi, and Sharjah already host a large Indian workforce, and the latest reforms could open the doors for many more.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store