Choksi's loan fraud case: CBI court issues summons to businessman
Mehul Choksi, the diamond businessman already linked to big banking scams, just had his attempt to dodge a ₹55.27 crore loan fraud case shut down by a special CBI court.
The case says Choksi and former Gitanjali Group employees (Vipul Chitalia and Aniyath Nair) took working capital loans from Canara Bank and Bank of Maharashtra—meant for jewelry business—but allegedly did not use the loans for the intended purpose of manufacturing and sale of jewelry.
Choksi's lawyers argued summons was issued without proper thought
Choksi's lawyers argued the summons was issued without proper thought, but Judge J P Darekar disagreed, saying everything was above board.
The CBI's case focuses on alleged misuse of loans and related financial offenses.
Meanwhile, Choksi is still fighting extradition from Belgium after a Belgian court backed India's request in October 2025; he's now appealing to Belgium's Supreme Court.
Indian authorities want him back for allegedly masterminding the massive ₹13,500 crore PNB scam using fake guarantees and credit letters.