New Delhi [India], April 14 (ANI): Punjab National Bank Scam whistle-blower Hariprasad SV has hailed the arrest of fugitive Indian businessman Mehul Choksi by Belgium's Law Enforcement authorities, acting on the request of the Central Bureau of Investigation (CBI).

Speaking to ANI, Hariprasad termed it as 'great news' not only for India but for all those who were cheated by him.

'Wow, Mehul Choksi getting arrested in Belgium is great news not only for India but also for all those who got cheated by him. The government must bring him back to India as soon as possible, and justice must be delivered,' he said.

'Apart from bringing him back, the most important thing is to get back all those billions of dollars he looted from India and stashed anywhere in the world. Hopefully, the Government of India will succeed this time. Great news,' Hariprasad said.

On July 26, 2016, Bengaluru-based entrepreneur Hari Prasad had written to the Prime Minister's Office (PMO), raising concerns about a potential large-scale scam. In his communication, Prasad pointed out that the balance sheets contained clear indicators that something was amiss.

Meanwhile, sources say Choksi was arrested in Belgium on Saturday after local authorities confirmed his presence in the country. Sources further stated that preparations were being made for his extradition to India.

However, Choksi is currently preparing for a legal battle. His defence team plans to move for bail, claiming that it will oppose his extradition.

The legal team states that Choksi has strong reasons to challenge the extradition request, citing his health condition, among other arguments.

The 65-year-old fugitive diamond merchant who left India on January 2, 2018, is wanted by the CBI and the Enforcement Directorate (ED) for allegedly defrauding the PNB of Rs 13,850 crore. His nephew, Nirav Modi, was also involved with him in the fraud.

He fled India, initially travelling to the United States before settling in Antigua. Before leaving India, Choksi took the citizenship of Antigua in 2017 and was later arrested in Dominica, allegedly trying to flee to Cuba, although his counsel had claimed that he had been kidnapped from Antigua.

Dominica deported him back to Antigua despite India making a representation for extradition in the court. He left Dominica, reportedly to seek treatment for Cancer in Belgium.

Choksi allegedly connived with his associates and other Punjab National Bank (PNB) officials from 2014 to 2017 and fraudulently obtained Letters of Undertaking and Foreign Letters of Credit from PNB, resulting in a wrongful loss of Rs. 6097.63 crore to PNB. (ANI)