Nirav Modi had sent Nehal to Dubai with the intention of 'destroying the evidence and obstructing the process of justice,' the charge sheet said.
Shares of PNB dropped 2.48 per cent to trade at Rs 62.85 on the BSE. The stock declined 2.40 per cent to Rs 62.90 on the NSE.
Choksi had moved the court in June 2018 seeking cancellation of the warrant, issued by the court as he did not respond to the summons and participate in the probe.
Choksi had moved the court last year seeking cancellation of the warrant issued by the ED.
Special PMLA court Judge V C Barde declared Nirav Modi a fugitive economic offender after hearing extensive arguments of lawyers of the diamantaire and the ED.
The Enforcement Directorate, which is probing the case, had earlier moved an application before a special PMLA court here to declare Choksi a fugitive economic offender.
Modi appeared for his regular 28-day "call-over" appearance from London's Wandsworth prison at Westminster Magistrates' Court.
The judge of the UK court rejected Modi's bail despite the security amount being doubled to four million pounds and an offer to be on house arrest.
Modi was looking distinctly healthier than his previous appearance before the same court earlier this year.
The 48-year-old is expected to be produced before Westminster Magistrates' Court in London to make another attempt at being let out on bail until his trial in May next year.
Modi is likely to appear via video link or may even be produced in person if the court listings officials deem that necessary.
The first application states that Choksi cannot be declared a 'proclaimed offender' without hearing him in court.
Modi has been lodged at Wandsworth prison in south-west London, one of England's most overcrowded jails, since his arrest in March on an extradition warrant executed by Scotland Yard.
In an application before special judge for CBI cases V C Barde, the agency said Choksi left the country even before the first FIR was filed in the case to 'conceal himself'.
The fugitive diamantaire's layer claimed that his client had left India for his medical treatment and at that time there were no CBI or ED criminal proceedings pending against him.