Where’s your father, country waiting to give him red carpet: SC to Choksi’s son
In a scathing remark, the Supreme Court of India has dismissed a petition filed by Mehul Choksi’s son, questioning the decision of the National Spot Exchange Limited (NSEL) to include him in a ₹937-crore recovery suit. The court’s comment has sent shockwaves, as it not only rejected the petition but also made a pointed remark about Mehul Choksi’s whereabouts. The apex court asked, “Where’s your respected father nowadays? The…country is…waiting to give him a red-carpet welcome.” This statement is a clear indication of the court’s frustration with Mehul Choksi’s continued absence from the country, despite being a key accused in the Punjab National Bank (PNB) scam.
Mehul Choksi, a diamond merchant, is one of the main accused in the ₹13,000-crore PNB scam, which is one of the largest banking scams in Indian history. He, along with his nephew Nirav Modi, is accused of defrauding the PNB by using fake guarantees to obtain loans from overseas banks. The scam was uncovered in 2018, and since then, both Choksi and Modi have been on the run, with India seeking their extradition from various countries.
The current case, however, pertains to a recovery suit filed by the NSEL against Mehul Choksi’s son and other family members. The NSEL has alleged that the Choksi family was involved in a ₹937-crore scam, and the court has now ruled that the family members, including Choksi’s son, will have to face the recovery proceedings.
The Supreme Court’s comment on Mehul Choksi’s absence is significant, as it highlights the country’s eagerness to bring him to justice. The government has been trying to extradite Choksi from Antigua and Barbuda, where he has been residing since 2018. However, the process has been delayed due to various legal and diplomatic complications.
The PNB scam has had far-reaching consequences for the Indian banking sector, with many banks facing significant losses. The scam has also led to a significant increase in scrutiny of banking practices and regulations, with the government taking steps to prevent such scams in the future.
The Supreme Court’s remark on Mehul Choksi’s absence is a clear indication of the country’s frustration with his continued evasion of the law. The court’s comment, “The…country is…waiting to give him a red-carpet welcome,” is a sarcastic reference to the fact that Choksi will be given a warm welcome when he is finally brought back to India to face trial.
The case has also raised questions about the role of family members in business dealings and the extent to which they can be held liable for the actions of their relatives. In this case, the court has ruled that Choksi’s son and other family members will have to face the recovery proceedings, which could have significant implications for their personal and business finances.
In conclusion, the Supreme Court’s remark on Mehul Choksi’s absence is a clear indication of the country’s eagerness to bring him to justice. The PNB scam has had significant consequences for the Indian banking sector, and the government is keen to ensure that those responsible are held accountable. The case has also raised important questions about the role of family members in business dealings and the extent to which they can be held liable for the actions of their relatives.
As the case continues to unfold, it will be interesting to see how the government and the courts handle the extradition of Mehul Choksi and the recovery of the losses incurred by the PNB. One thing is certain, however – the country is waiting for Choksi’s return, and when he finally does come back, it will not be a red-carpet welcome that he will receive, but a rigorous trial and potentially severe punishment.
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