New Delhi, Aug 5: The Indian government on Sunday formally handed over the extradition request to Antiguan authorities for Mehul Choksi.
On Saturday, the Mumbai Police said they gave a clear report to Choksi last year as no criminal record found against him.
Choksi submitted its application for citizenship in Antigua in May 2017.
Choksi reportedly fled from the United States to the Caribbean nation of Antigua and Barbuda to secure himself from the extradition as the Antigua and Barbuda have strict Banking Secrecy laws and difficult terms and conditions for the extradition of an offender.
As per reports, Antiguan authorities cleared his citizenship in November 2017 after India did not give any adverse report to stall his application. Choksi had fled India on January 4 this year and took oath of allegiance in Antigua on January 15.
Under the Citizenship by Investment Program of Antigua and Barbuda, a person can take their passport on a minimum investment of USD 1,00,000 in the NDF investment fund.
Choksi and his companies allegedly availed of credit from overseas branches of Indian banks using the fraudulent guarantees of PNB given through letters of undertaking (LoUs) and letters of credit issued by the Brady House branch which were not repaid, bringing liability on the state-run bank, the officials have said.
(with PTI inputs)