Belgian police arrested Mehul Choksi, a prime suspect in the $2 billion Punjab National Bank (PNB) fraud, at the request of the Central Bureau of Investigation (CBI). Choksi's arrest is based on two warrants issued by a Mumbai court. India will seek his extradition.
Choksi, who claims to be suffering from chronic lymphocytic leukemia and lymphoma, is expected to seek bail. Indian agencies will oppose this and pursue extradition.
The Enforcement Directorate (ED) is actively recovering assets worth nearly ₹80 crore held abroad by Choksi. The agency has identified properties in Thailand, Dubai, Japan, and the US, and has already begun returning assets to victims of the fraud.