Mumbai’s Special PMLA Court has allowed Punjab National Bank (PNB) and ICICI Bank to join proceedings against fugitive businessman Mehul Choksi, who now holds Antiguan and Barbudan citizenship.

The move enables the banks to claim attached properties linked to the $1.6bn PNB fraud case. Their applications were filed alongside the State Tax Department, which is seeking to recover pending GST dues from Choksi.

Both banks argued they were direct victims of the fraud and entitled to intervene. The court sided with them, despite opposition from the tax authorities.

Choksi, a former jeweller, fled India in 2018 and remains wanted by Indian authorities, who are pursuing extradition. Reports say he is seriously ill as legal pressures mount.