UK finally confirms presence of #PNB fraudster Nirav Modi in its territory; extradition request already in process

New Delhi, August 20: Fugitive millionaire jeweller Nirav Modi, the prime accused in Rs 13,000 crore Punjab National Bank (PNB) scam is residing in the United Kingdom (UK).

 

Notably, the British authorities have finally confirmed the presence of Nirav Modi in the United Kingdom. Knowing this before, the Central Bureau of Investigation (CBI) investigating PNB scam has already sent an extradition request to through the Ministry of Home Affairs (MHA).

The CBI has also submitted a copy of Interpol Red Notice against him, requesting the immediate detention of Nirav Modi on that ground. Earlier, General VK Singh in Rajya Sabha said that the request for extradition of Nirav Modi had been sent to the High Commission of India in London.

In the month of July, Interpol issued a red corner notice against Nirav Modi, his brother Neeshal Modi and one of Nirav's close aide Subhash Parab after CBI and Enforcement Directorate approached to the International probe agency with authenticated documents related to a fraud case.

The development comes nearly seven 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. The ED had conducted 260 searches in this case across the country.

MEA has also revoked the visa of Nirav Modi and Mehul Choksi. 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.

However, the track record of extraditions from the UK has not been good for India. Since 2002, India has so far made 29 such requests of which 9 have been rejected. Further, the UK court also declined to issue arrest warrants in three cases. The remaining 15 cases, which includes that of Vijay Mallya's is pending. Samirbhai Vinubhai Patel is the only fugitive whom the UK extradited to India in the past 16 years.