SFIO charges Mehul Choksi, Chanda Kochhar in ₹13,000cr bank scam
The Serious Fraud Investigation Office (SFIO) has filed a prosecution complaint against fugitive diamond trader Mehul Choksi, his wife Priti, and former MD and CEO of ICICI Bank Chanda Kochhar for their roles in a massive ₹13,000 crore bank fraud.
The prosecution complaint, filed before a Mumbai court in December 2025, names 41 people and companies as accused.
The investigation dates back to February 2018.
How the scam worked—and what's happening now
Choksi and his team allegedly teamed up with Punjab National Bank (PNB) officials to fake Letters of Undertaking and Foreign Letters of Credit using the SWIFT system. This led to PNB losing over ₹6,000 crore.
They're charged with conspiracy, cheating, breach of trust, falsification of records and bribery.
Meanwhile, Choksi was arrested in Belgium last April; after his extradition appeal was rejected there in December 2025, the next hearing of the SFIO complaint is scheduled for Mumbai this April.