The Arrest and Extradition Request

In a important development, Mehul Choksi, the Indian businessman accused of perpetrating a ₹13,400 crore fraud against Punjab national Bank (PNB), was apprehended by Belgian authorities on Monday. This action followed a formal request from both the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) of India. The Indian government is now actively pursuing Choksi’s extradition too face charges on his home soil.

enter Paul Bikayart: A Formidable Legal Defence

However,choksi’s return to India is far from a foregone conclusion. He has enlisted the services of Paul Bikayart, a highly esteemed and notably expensive European lawyer, signaling a potentially protracted legal battle. Bikayart’s reputation precedes him, known for his expertise in human rights and extradition cases.

He is one of the moast famous lawyers in Europe… Paul has served in several human rights and extradition cases.

Dainik Bhaskar

Who is Paul Bikayart?

Paul Bikayart’s career is marked by high-profile cases, including representing members of the Basque terrorist organization ETA against extradition to Spain. This case significantly elevated his profile across Europe and beyond. his involvement suggests Choksi is preparing a robust defense against extradition,potentially citing human rights concerns or other legal impediments.

Choksi’s Defense Strategy: Health Concerns?

Adding another layer to the complexity, Vijay Aggarwal, Choksi’s lawyer in India, has stated that his client is battling cancer. This health condition may form the basis of a plea to the Belgian court, seeking permission for Choksi to remain in Belgium for medical treatment. Such arguments are common in extradition cases, frequently enough leading to lengthy legal proceedings.

Life in Antwerp: A Glimpse into Choksi’s Residence

Prior to his arrest, Mehul Choksi resided in Antwerp, Belgium, a city renowned for its high cost of living.Specifically, he lived in a luxurious apartment on Wetwinnastrat, situated in one of Antwerp’s most upscale neighborhoods. the average rent for a one-bedroom apartment in this area ranges from €900 to €1,200 per month, with overall living expenses estimated between €1,500 and €1,900 monthly. This detail underscores the stark contrast between Choksi’s affluent lifestyle abroad and the allegations of financial impropriety he faces in India.

Asset Recovery Efforts: A Silver Lining for Victims?

While the extradition battle unfolds, efforts to recover assets linked to the PNB fraud continue. To date, the ED has secured orders to return approximately ₹2,566 crore worth of assets to the victims of the fraud. Furthermore, the agency has seized assets valued at around ₹1,968 crore, encompassing 105 immovable properties and jewelry and precious metals worth approximately ₹230 crore. These recoveries offer a glimmer of hope for those affected by the alleged fraud.

According to recent data from the ED, asset recovery in financial fraud cases has seen a 15% increase in the last year, highlighting the agency’s intensified efforts to compensate victims.