Mumbai court issues non-bailable warrant against Mehul Choksi in loan fraud case
Choksi, a prime accused in the multi-million dollar Punjab National Bank (PNB) 'fraud', was arrested in Belgium on April 12 following an extradition request by Indian probe agencies.
Mumbai, Apr 30 (PTI) A court here has issued a non-bailable warrant against diamantaire Mehul Choksi in the Canara Bank-led consortium loan fraud case involving about Rs 55 crore.
The matter has been adjourned to June 2 for a report on the warrant.
The Central Bureau of Investigation (CBI) has alleged that the Canara Bank and the Bank of Maharashtra had sanctioned Rs 30 crore and Rs 25 crore, respectively, as working capital facilities under a consortium agreement to Bezel Jewellery.
The loan was granted for the manufacturing and sale of gold and diamond-studded jewellery, but the company allegedly did not use it for the intended purposes, according to the CBI.
The company did not repay the loan, causing a loss of Rs 55.27 crore to the consortium, the agency has alleged.
Choksi and his nephew Nirav Modi are prime accused in the Rs 13,500-crore PNB 'fraud'.
While Choksi is fighting for bail in a court in Belgium, Nirav Modi has been in jail in London since 2019. PTI AVI NR
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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We remain committed to working alongside the AIFF to achieve a resolution." (With inputs from PTI) About the Author Sports Desk A team of reporters, writers and editors brings you live updates, breaking news, opinions and photos from the wide world of sport. Follow @News18Sports Click here to add News18 as your preferred news source on Google. News18 Sports brings you the latest updates, live commentary, and highlights from cricket, football, tennis, badmintion, wwe and more. Catch breaking news, live scores, and in-depth coverage. Also Download the News18 App to stay updated! tags : aiff indian super league view comments Location : New Delhi, India, India First Published: August 16, 2025, 21:32 IST News sports ISL Clubs Warn AIFF Of Possible Shutdown If Impasse Continues: 'Over Past 11 Years...' Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. 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