The CBI has booked Choksi, uncle of his alleged partner in crime Nirav Modi, in two cases related to the scam and filed charge sheet against him.
A special court in Mumbai has issued a Non-Bailable Warrant against him.
Armed with the warrant, the CBI moved the Interpol for issuance of Red Corner Notice against the Gitanjali group promoter, who is one of the masterminds behind $2 billion banking fraud in the Punjab National Bank, but it is still under process. On this basis, request for Red Corner Notice was moved in June.
While RCN has been issued against Nirav Modi and his brother Nishal by the Interpol, the request for such a notice against Choksi is pending with the Lyon-based international police cooperation agency, they said.
The issuance of RCN would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite him.
The CBI, in its charge sheets filed on May 14, had alleged that Nirav Modi, through his companies, siphoned off funds to the tune of Rs 64.98 billion (Rs 6,498.20 crore) using fraudulent LoUs issued from PNB's Brady House branch in Mumbai. Choksi allegedly swindled Rs 70.80 billion (Rs 7080.86 crore), making it possibly the biggest banking scam in the country, it had alleged.