In Nirav Modi Bank Fraud Case, Probe Agency Moves Court For Extradition

PNB scam: Nirav Modi's extradition has been sought by the Enforcement Directorate from the UK, Belgium and a few other countries, officials said

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In Nirav Modi Bank Fraud Case, Probe Agency Moves Court For Extradition

Nirav Modi is in London trying to claim asylum from what he calls "political persecution", a report said


New Delhi/Mumbai: 

Highlights

  1. Extradition sought from UK, Belgium and few other countries: Officials
  2. Mumbai court had last week issued an arrest warrant against Nirav Modi
  3. Nirav Modi is main accused in the $2 billion PNB loan fraud case
The Enforcement Directorate (ED) moved a special court in Mumbai today, seeking extradition of billionaire jeweller Nirav Modi in connection with a money laundering case related to the $2 billion Punjab National Bank loan fraud, officials said.

The extradition has been sought by the ED from the UK, Belgium and a few other countries, officials said.

It has been sought on the basis of a recent charge-sheet filed by the Enforcement Directorate against Nirav Modi and his family under the Prevention of Money Laundering Act (PMLA).

The Mumbai court had last week issued an arrest warrant with no provision of bail against Nirav Modi after taking congnisance of the charge-sheet.

According to the officials, as Nirav Modi has been continuously changing his location across the globe, the extradition request has been made to multiple countries as part of its mandate under the criminal provisions of the anti-money laundering law.

Mr Modi, his uncle and jeweller Mehul Choksi and others are being probed by various agencies after the bank fraud came to light, following a complaint from Punjab National Bank (PNB) that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore with the purported involvement of a few employees of the bank.

The CBI and the ED have registered two First Information Reports (FIRs) each in connection with the case. Both Mr Modi and Mr Choksi are said to have left the country before the criminal cases were filed against them.


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