Mumbai: The Bombay high court Wednesday refused to stay the special PMLA court’s proceedings to declare diamond businessman and key accused in the USD 2 billion Punjab National Bank (PNB) scam, Mehul Choksi, a fugitive economic offender.

The Enforcement Directorate (ED) which is probing the case, had earlier moved an application before the special PMLA court to declare Choksi a fugitive economic offender, under provisions of the new Fugitive Economic Offenders’ (FEO Act which came into force in August last year.

The accused subsequently moved the high court, seeking a stay on the case proceedings in the PMLA court. Choksi also requested the court’s permission to cross-examine those witnesses on the basis of whose statements he would be declared a fugitive economic offender (FEO).