NEW DELHI: Mehul Choksi, the fugitive diamantaire who is needed in the nation in reference to the Rs 13,5000-crore Punjab National Bank mortgage fraud case, has mysteriously gone lacking in Antigua and Barbuda the place he had been staying since January 2018.
Choksi’s sudden disappearance has raised a query mark over the Antiguan authorities’s intention to help India in the case.
The Royal Police Force of the Caribbean island nation mentioned in an official assertion that it has launched a lacking particular person operation together with the {photograph} of the businessman, looking for data from the public.
“The Police are investigating a Missing Person Report made Mehul Choksi of Jolly Harbour. Mehul was reported missing on Sunday 23rd May 2021 at the Johnson Point Police Station,” the assertion mentioned.
Choksi, 62, was final seen on Sunday in his automotive which was recovered by the police following searches, however he couldn’t be discovered, it mentioned. The media studies say that Choksi, who had taken the citizenship of the Caribbean island nation of Antigua and Barbuda, was seen driving in the southern space of the island on Sunday. Choksi’s lawyer Vijay Aggarwal has additionally confirmed the studies.
Though unconfirmed, some media studies claimed that the fugitive diamond dealer could have fled Antigua and will have landed in Cuba.
Why is Mehul Choksi needed in India?
Choksi and his nephew Nirav Modi are needed in the nation for allegedly siphoning off Rs 13,500 crore of public cash from the state-run Punjab National Bank (PNB), utilizing letters of endeavor.
What are the costs in opposition to Mehul Choksi?
Both Choksi and his nephew, diamantaire Nirav Modi, have been accused by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) of defrauding state-owned Punjab National Bank (PNB) of Rs 13,500 crore in the issuance of letters of endeavor and international letters of credit score.
While Nirav Modi is in a London jail after repeated denial of bail and is contesting extradition to India, Mehul Choksi had taken the citizenship of Antigua and Barbuda in 2017 utilizing the Citizenship by Investment programme, earlier than fleeing India in the first week of January 2018. The rip-off got here to mild subsequently. Both of them have been charged by CBI and ED.
What are the authorized hurdles in Mehul Choksi’s extradition to India?
Mehul Choksi and Nirav Modi reportedly left India in the first week of January and haven’t returned regardless of repeated summons from the investigating companies and courts.
In 2019, Choksi was first traced to Antigua after the US authorities knowledgeable India about his journey to the Caribbean nation. Choksi, who owns Gitanjali Gems, grew to become an Antiguan citizen underneath its programme that extends its citizenship in change for funding in the island nation. He has surrendered his Indian passport.
CBI then approached the Ministry of External Affairs, which in flip contacted the Antiguan authorities asking for Choksi’s extradition. It could also be famous that India doesn’t have an extradition treaty with Antigua and Barbuda. Despite that, the Antiguan Foreign Minister, EP Chet Greene, had then assured his Indian counterpart Sushma Swaraj that his authorities will cooperate with India on the extradition. However, he refused to set a timeframe for resolving the matter.
Later, India managed to safe an Interpol Red Notice in opposition to Choksi, additional tightening the case for extradition.
Antigua and Barbuda had in previous knowledgeable India that in the absence of a bilateral treaty, Mehul Choksi can nonetheless be extradited to New Delhi as each international locations are members of the Commonwealth of Nations.
Section 7 of Antigua and Barbuda’s Extradition Act, 1993, raises hope for Choksi’s extradition to India to face trial in the PNB mortgage case fraud. This was shared with the Indian envoy when he met the nation’s Foreign Minister EP Chet Greene and solicitor common Martin Camacho to debate the case.
The CBI has additionally initiated the course of to extradite the fugitive businessman from Antigua and Barbuda. CBI had despatched a proper request underneath the UN Convention in opposition to Corruption as each international locations are half of the conference, looking for Choksi’s extradition to India. Both India and Antigua are members of the treaty because of which Antigua is legally sure to extradite Mehul Choksi.
What is the UN Convention in opposition to Corruption?
The United Nations Convention Against Corruption (UNCAC) is the solely legally binding common anti-corruption instrument. It covers 5 most important areas — preventive measures, criminalisation and regulation enforcement, worldwide cooperation, asset restoration, technical help and knowledge change.
It additionally covers a number of different kinds of corruption resembling bribery, buying and selling in affect, abuse of features, and varied acts of doubtful offers in personal sector. UNCAC goals at returning belongings to their rightful house owners, together with international locations from which they’ve been taken illicitly.
What does Mehul Choky say?
Choksi has maintained that because of the motion of investigating companies, which included the attachment of his belongings by the ED, his model worth diminished because of which he couldn’t settle his dues.
“I lost my business and its brand value was destroyed; all my employees lost their jobs. I had not defaulted on payment of loans till my business was closed without preliminary enquiry. I could have settled all my dues had my business not been shut down in a matter of days,” he had mentioned.
