It was alleged that the two industrialists extracted loans in crores from foreign banks presenting fake guarantees in the name of Punjab National Bank.
The 59-year old Mehul Choksi is wanted in the bank fraud of 13,000 crores and has left India in January. A charge sheet was filed against him by CBI and Enforcement Directorate (ED) in a Mumbai court. According to the charge sheet, while, Choksi swindled over Rs 7,000 crore; Nirav has siphoned Rs 6,000 crore.
The International Criminal Police Organization(Interpol) has issued a red corner notice against Mehul Choksi on Thursday. This arrest warrant came in the wake of a CBI request. Choksi’s movements will now be tracked by the US authorities and he won’t be allowed to leave the country.
Choksi’s lawyer told CBI and ED last year that he is not in a position to record a statement. He claimed, “If his condition gets better, he[Choksi] may return to India.”
Interpol had also issued a red corner notice against Nirav Modi in July. Nirav Modi is reportedly the main accused in the bank fraud cases.
Both Modi and Choksi are fugitive since January despite repeated summons from the investigation agencies and courts.
Nirav is likely to be in London and Choksi in Antigua and Barbuda. India agencies have sent formal requests to both the accused seeking their extradition.