Overview

• Special CBI court under Judge J P Darekar stayed all trial proceedings until August 8 following a challenge to the Esplanade magistrate court’s April summons order.
• Lawyers Vijay Agarwal, Rahul Agarwal and Jasmin Purani argued the lower court issued summons and a non-bailable warrant on the same day as the CBI chargesheet without applying its mind.
• Darekar emphasized that concise, reasoned orders are necessary for both parties and superior courts to understand the trial court’s decision-making process.
• The case originated from a July 12, 2022 CBI FIR alleging diversion of ₹30 crore and ₹25 crore working capital from Canara Bank and Bank of Maharashtra to companies linked to Choksi.
• Choksi is presently detained in Belgium fighting India’s extradition request in a separate ₹13,500 crore PNB scam, while his nephew Nirav Modi remains jailed in London.