Interpol all set to issue red corner notice against Nirav Modi for his involvement in Rs 13,000 crore #PNBScam

New Delhi, June 23: The Interpol is all set to issue red corner notice against billionaire jeweler Nirav Modi for his involvement in the Rs 13,000 crore Punjab National Bank (PNB) scam. Notably, the massive development comes after a series of stern action taken by Indian authorities against Nirav Modi.

 

The Interpol is today expected to issue a red corner notice against fugitive billionaire jeweler Nirav Modi as the international agency is satisfied with all the documents provided by the Central Bureau of Investigation (CBI) which is probing the Rs 13,000 crore fraud case.

CBI had provided various records to Interpol including non-bailable warrants issued by a Mumbai special court and the details of the charge sheets filed in the case etc. The documents were found in order and have satisfied the Lyon-based international police cooperation agency which is processing the CBI's request.

On June 12, a special court in Mumbai issued a non-bailable warrant against Nirav Modi and others including his family members for their involvement in the mega fraud. In the month of May, the central probe agency had filed a 12,000 page-charge sheet in the special court against jeweler Nirav Modi and 23 others, including his father Deepak Modi, sister Purvi Mehta, brother-in-law Maiank Mehta, brother Neeshal Modi and another relative Nehal Modi. In the charge sheet, the ED has charged all the accused under Prevention of Money Laundering Act (PMLA) in PNB scam case.

The development comes nearly four months after the biggest fraudulent case hit Mumbai in the month of February where Punjab National Bank reported that it has detected fraudulent and unauthorized transactions in one of its branches in Mumbai. The cumulative fraud amounts stand to Rs 13000 crores.

After the scam was unveiled, the Enforcement Directorate and CBI registered an FIR under the Prevention of Money Laundering Act and conducted scathing raids after the surfacing of the alleged fraud by billionaire diamond trader Nirav Modi and his Mumbai-based firms Diamonds R Us, Solar Exports and Stellar Diamonds.

Recently, the ED also filed charge sheet against Nirav Modi and his several countries and many other senior bank officials for their involvement in the mega scam. The CBI sealed Brady House branch of Punjab National Bank in Mumbai from where the Rs 11,378.68 Crores PNB scam was originated.

In March, the Ministry of External Affairs confirmed that the fugitive offender Nirav Modi, who was involved in more than Rs 13,000 PNB scam is in Hong Kong. However, Indian authorities have already sought the provisional arrest of Nirav Modi to Hong Kong. MEA has also revoked the visa of Nirav Modi and Mehul Choksi.

In May, taking a stern action against billionaire jeweler Nirav Modi for his involvement in the Rs 13,000 crore Punjab National Bank (PNB) scam, the Enforcement Directorate (ED) attached a Rs 52.80 crore wind farm.

Importantly, Nirav Modi and his brother Nishal Modi left the country on 1st of January this year. Nirav Modi's wife, an American citizen, left India on 6 January while Mehul Choksi left the country on 4 January. CBI received a complaint from PNB on 29th Jan 2018and registered the case on 31st January.