Where’s your father, country waiting to give him red carpet: SC to Choksi’s son
In a recent hearing, the Supreme Court of India made a scathing remark to the son of Mehul Choksi, a fugitive businessman accused in the Punjab National Bank (PNB) scam. The court’s comment came while dismissing a petition filed by Choksi’s son against the National Spot Exchange Limited’s decision to include him in a ₹937-crore recovery suit. The apex court’s observation has sparked a heated debate, with many interpreting it as a reflection of the country’s frustration with Choksi’s continued evasion of the law.
The PNB scam, which surfaced in 2018, involved the fraudulent issuance of Letters of Undertaking (LoUs) to Choksi’s companies, resulting in a loss of over ₹13,000 crore to the bank. Choksi, who is the promoter of Gitanjali Gems, fled the country in January 2018, just before the scandal broke out. Since then, he has been living in Antigua and Barbuda, a Caribbean island nation, where he has been granted citizenship.
The Supreme Court’s remark, “Where’s your respected father nowadays? The country is waiting to give him a red-carpet welcome,” is a clear indication of the court’s exasperation with Choksi’s prolonged absence from the country. The comment is not only a rebuke to Choksi’s son but also a reflection of the country’s eagerness to bring the fugitive businessman to justice.
The petition filed by Choksi’s son was an attempt to challenge the National Spot Exchange Limited’s decision to include him in the recovery suit. However, the Supreme Court dismissed the petition, observing that Choksi’s son had failed to demonstrate how he was affected by the decision. The court’s decision is a significant setback for Choksi’s family, which has been trying to distance itself from the fugitive businessman’s actions.
The PNB scam has been a major embarrassment for the Indian government, which has been struggling to recover the losses incurred by the bank. The government has been trying to extradite Choksi from Antigua and Barbuda, but the process has been slow. The Supreme Court’s comment is likely to put pressure on the government to expedite the extradition process and bring Choksi to justice.
The case has also raised questions about the effectiveness of India’s extradition laws and the country’s ability to bring fugitive businessmen to justice. Choksi’s case is not an isolated incident; several other Indian businessmen have fled the country in recent years, citing various reasons, including health problems and business commitments.
The Supreme Court’s remark is also a reflection of the country’s growing frustration with the lack of accountability among Indian businessmen. The PNB scam is one of the several high-profile cases of corporate fraud that have surfaced in recent years, highlighting the need for stronger regulations and stricter enforcement of laws.
In conclusion, the Supreme Court’s comment to Choksi’s son is a clear indication of the country’s eagerness to bring the fugitive businessman to justice. The remark is not only a rebuke to Choksi’s family but also a reflection of the country’s frustration with the prolonged absence of the accused from the country. The case highlights the need for stronger extradition laws and stricter enforcement of regulations to prevent Indian businessmen from fleeing the country and evading justice.
As the country waits for Choksi’s return, the Supreme Court’s comment is a reminder that the law is still pursuing him, and he will have to face the consequences of his actions. The case is a significant development in the PNB scam, and its outcome will have far-reaching implications for the Indian banking system and the country’s efforts to prevent corporate fraud.
The Indian government has been trying to strengthen its extradition laws and improve its ability to bring fugitive businessmen to justice. The case has also highlighted the need for international cooperation in preventing corporate fraud and bringing fugitive businessmen to justice.
In the end, the Supreme Court’s comment is a reminder that the country is waiting for Choksi’s return, and he will have to face the consequences of his actions. The case is a significant development in the PNB scam, and its outcome will have far-reaching implications for the Indian banking system and the country’s efforts to prevent corporate fraud.
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