Fugitive diamond trader Mehul Choksi has surrendered his Indian passport and renounces his Indian Citizenship by mere surrendering his Indian passport in Indian embassy at Antigua by merely paying Rs.13,500/- as renunciation charges. Antiqua provides citizenship for US$1,00,000/- which is very cheap for economic offenders. Mehul Choksi is the proclaimed offender by the Indian court for the multimillion croe scam in Punjab National Bank (PNB).
Antigua leads a new way for the scientific asylum to many economic offenders for the entire world. Antigua and Barbuda has a newly launched citizenship by investment program for investors who can directly acquire citizenship and passport by donation to a charity for a sum of US $ 1,00,000 or through purchase of real estate for US$ 4,00,000. The country joins St.Kitts and Nevis and Dominica where the citizenship program is already up and running.
Choksi who obtained citizenship of Antigua by investor scheme has returned the Indian Passport. The question now is Choksi can be legally extradited to India from Antiqua. So far only 3 Indians has been extradited from foreign countries. They are 1. Ravindra Kumar Rastogi ( UAE, 2003), 2. M.V.Raja @ Louis Jaloo ( UAE 2005) and 3.Narendra Rastogi (USA 2008). In all these cases India had extradition treaty with the above countries. But with Antigua there was no such treaty. Even though assuming that Antigua is a common wealth countries can a person can extradited between the Common Wealth countries is a question.
In the year 2001 India has some arrangements with Antigua and Barbuda in the matter of Extradition. Since Treaty is different from arrangements, Antigua can even refuse to extradite Mr.Choski or may accept it. India should frame new laws in accordance with the international treaties and obligations in order to shut the loop holes for the economic offenders such as Choski and Mallaiya which causes major earthquakes in Indian economy. There is 50:50 chances for Choski extradition to India.
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