Urvashi Sharma and businessman Mehul Choksi
Indian Bollywood actress Urvashi Sharma (R) and businessman Mehul Choksi (L) attend the Gitanjali Lifestyle 1,000 m guinea race and Milap fashion show in Mumbai on December 13, 2009STR/AFP/Getty Images

As the case against him heats up, Mehul Choksi, the uncle of diamond jeweller Nirav Modi, was spotted holidaying in the Caribbean island of Antigua, as per Times Now.

Choksi, who own Gitanjali Gems is one of the accused in the Punjab National Bank fraud case, where he and Nirav Modi, along with several bankers colluded to secure credit from overseas banks using fraudulent guarantees. The duo has denied the claims but still fled the country to avoid prosecution.

Earlier on Tuesday, through a lawyer, Choksi filed a case in a Bombay court asking for the non-bailable warrant issued in his name to be cancelled. He cited fears for his life, due to the increased number of lynchings, if he was to return to India.

The $2 billion fraud scam has left the PNB losing around 50 percent of its market value, which led to the intervention of the Enforcement Directorate (ED). Having filed a charge sheet, the ED has accused 22 people of being involved in the scam.

Both Modi and Choksi have fled the country for unknown destinations, prompting the CBI to ask Interpol to issue a red corner notice against Modi, which the international agency finally did on July 3 after several attempts by the CBI. The CBI is also planning a red corner notice against Choski but is yet to approach the Interpol for a request.

Rattled by the scam, the Mumbai branch of the PNB was forced to shut most of its operations, while shifting large accounts to other corporate branches for better monitoring.

The Centre also recently passed an upgraded Economic Offenders Bill in the monsoon session of the Parliament. The bill is seen as the first step by the Modi government to crack down on loan defaulters such as Modi, Choksi and Vijay Mallya.