India, Nov. 7 -- A special CBI court has issued an open-ended, non-bailable warrant against Jayesh Shah, a Hong Kong-based accused in the Rs.13,579-crore Punjab National Bank (PNB) fraud case involving Mehul Choksi's Gitanjali Group. The warrant was issued after Shah refused to return to India to join the investigation despite a red corner notice against him. Shah is a partner in Hong Kong-based 4C's Diamonds Distributors and allegedly managed the firm's operations.

The order, on Friday, recorded that Shah had been residing in Hong Kong even before registration of the crime. The CBI told the court that it had emailed him on March 3, 2021, and contacted him over the phone, asking him to join the investigation. The judge recorded that Shah...