Bhansali, who was an executive of Nirav Modi's Firestar International firm, is absconding since the probe started in the alleged USD 2 billion PNB fraud case.
Modi's firms allegedly defrauded the PNB of over Rs 6,500 crore, while Choksi's firms Rs 7,080 crore.
Punjab National Bank fraud case: Court issues non-bailable warrants against Nirav Modi, Mehul Choksi
The ED had earlier issued summonses to Modi and Choksi, both key accused in the scam cases, asking them to appear before the central agency.
Kapil Sibal also questioned why the HRD Minister and the Social Justice Minister were fielded by the government to defend it on the matter.
The bank had suspended10 employees after the fraudulent transactions of more than Rs 11,300 crore to stock exchanges were reported.