New Delhi, April 14 -- The arrest of absconding jeweller Mehul Choksi in Belgium over the weekend has brought the spotlight back on the Rs.14,000-crore scam that hit Punjab National Bank (PNB) back in 2018. Choksi, along with his nephew Nirav Modi, is a key accused in one of the largest financial frauds in Indian banking history, which they pulled off with the help of a few corrupt PNB employees.

The scam, which came to light in early 2018, not only shocked the country but also spelt trouble for PNB shareholders, who lost almost 50% of their share price value in a matter of five months. And the impact still lingers, with the stock unable to recover to the pre-fraud levels.

The scam was carried out between 2014 and 2017, came to light in...