Nagpur (Maharashtra) [India], April 14 (ANI): Minister of State for Finance Pankaj Chaudhary on Monday lauded the arrest of fugitive Indian businessman Mehul Choksi in Belgium, stating that it was a 'very big achievement'.

Earlier, as per sources, 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.

Speaking to ANI, Chaudhary reaffirmed Prime Minister Narendra Modi's commitment to bringing back the culprits who have looted the country's money.

'Prime Minister Narendra Modi had already said that those who have looted the money of the poor will have to return it. And action is being taken against such people in the country. Mehul Choksi has been arrested; it is definitely a very big achievement,' Chaudhrary stated.

Meanwhile, Choksi is currently preparing for a legal battle as per sources. 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)