According to sources posing fresh complications for India, absconder diamantaire Mehul Choksi, one of the prime accused in the Rs 13,500 crore Punjab National Bank (PNB) fraud, has surrendered his Indian citizenship in favor of Antigua & Barbuda Isles in the West Indies. The official sources said Choksi, 59, acquired his new citizenship in 2018 and then subsequently deposited his cancelled Indian Passport No. Z3396732 and a mandatory fee of $177 for the other formalities, with the Indian High Commission in the Cooperative Republic of Guyana.
Furthermore sources in the national capital said that despite the latest developments, the Indian government will continue its pursuit of Choksi with the government of Antigua & Barbuda through diplomatic and legal channels. Meanwhile Choksi, along with his 47 year old nephew Nirav Modi, are among many others charged with conniving with certain bank officials to dupe the PNB of over Rs 13,500 crore by issuing fake Letters of Undertakings (LoUs) to their group companies through the PNB's flagship Brady House Branch.
Moreover as per the PNB's admission, a total of more than 1,200 LoUs were issued to Choksi, Modi and their relatives and group companies with the CBI charge sheet in Mumbai naming them plus other employees, top PNB officials and executives.
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