PNB bank case: Interpol issues Red Corner Notice against Mehul Choksi

Interpol on Thursday issued Red Corner Notice (RCN) against Mehul Choksi, accused in the multi-crore Punjab National Bank (PNB) money-laundering case, news agency ANI reported.

An RCN issued by Interpol works as an international arrest warrant. The notice was issued on request of India's CBI (Central Bureau of Investigation).

Mehul Choksi who owns Gitanjali Gems is under investigation for his role in the PNB scam along with his nephew Nirav Modi. The CBI had earlier arrested the vice-president of Gitanjali group Vipul Chitalia.

Choksi had reportedly taken Antiguan citizenship last year and moved to the Caribbean country in July this year after leaving India. He had said in a statement that he had moved to Antigua and Barbuda under the Citizenship by Investment program.

A similar Interpol notice was issued to Nirav Modi and his executive Mihir R Bhansali in September.

Punjab National Bank, the country'a second-largest state-run bank, said earlier in 2018 that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.