The Interpol has issued a Red Corner Notice against deserted billionaire Mehul Choksi. A Red Corner Notice is a kind of international arrest warrant for fugitives where Interpol requests its member countries to arrest or detain them.
Mehul Choksi is accused of cheating state-run Punjab National Bank to the tune of Rs 13,000 crore in alleged collusion with his nephew Nirav Modi. Choksi, escaped in the first week of January this year after he and his companies cheated the bank of Rs 7,000 crore. He has taken citizenship of Antigua.
The PNB was allegedly cheated by fraudulently issued of Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs). The CBI has charge-sheeted both Nirav Modi and Choksi separately in the scam.
The CBI, in its charge-sheets last month, alleged Choksi swindled Rs 7,080.86 crore, making it the country’s biggest banking scam at over Rs 13,000 crore.
Choksi appealed against the CBI’s application seeking the Red Corner Notice, alleging that the cases against him were a result of political conspiracy. He also raised questions on issues such as jail conditions in India, his personal safety and health. His appeal was considered by a five-member Interpol committee’s court, which cleared the Red Corner Notice.