The CBI has requested Interpol Manchester to detain fugitive diamantaire Nirav Modi — accused in the Rs 13,578 crore Punjab National Bank (PNB) scam — after the United Kingdom (UK) authorities confirmed his presence in its territory. The request has been sent through the Union Home and the External Affairs Ministries.
Nirav, along with his kin and fugitive uncle Mehul Choksi, fled India at the beginning of this year, more than a month before the PNB scam came to the fore.
CBI officials said the agency has also sent to UK authorities a copy of the Interpol Red Notice issued against Nirav, seeking his immediate detention and intimidation. “We are in touch with UK authorities,” officials added.
Earlier in July, the Interpol had issued a Red Corner Notice (RCN) against Nirav after the CBI had approached Interpol. Media reports previously placed him in the UK, but there was no official confirmation about his presence there. He was later spotted in several countries, but he kept evading detection until the UK authorities determined his current location. Interestingly, India is already fighting for the extradition of another fugitive businessman Vijay Mallya from the UK.
Mehul Choksi was last traced to Antigua, where he is believed to have been granted citizenship.
The PNB fraud case pertains to the fraudulent use of certain banking instruments to defraud PNB of thousands of crores of rupees. The instruments in question — letters of Undertaking or loU — are used by customers to raise money from a bank’s foreign branches.
The scam, which reportedly began in 2011, was detected in January this year, after which PNB officials reported it to the probe agencies.
Two criminal complaints were filed by the ED in these instances after taking cognisance of CBI FIRs. Non-bailable warrants were issued against the two, while an Interpol ‘red corner’ arrest warrant has been issued against Nirav Modi on the request of the ED.
The ED had conducted 260 searches in this case across the country.
Recently, a special Fugitive Economic Offenders Act court in Mumbai issued public summons to the sister and brother of absconding Nirav and asking them to appear before it on September 25. It said if they fail to appear, their assets will be confiscated under the newly enacted Act aimed at curbing big ticket economic crimes.