As Punjab National Bank named jewellery designer Nirav Modi as the prime accused in fraudulent transactions worth Rs 11,360 crore, here's a look at other tycoons looted and fled India:
As Punjab National Bank named jewellery designer Nirav Modi as the prime accused in fraudulent transactions worth Rs 11,360 crore. On the other hand, Nirav Modi may have left the country on 1st of January. CBI received complaint from PNB on 29th Jan 2018. CBI registered the case on 31st January.
Vijay Mallya, who is wanted in India faces several cases in India on charges of fraud and money laundering involving Kingfisher Airlines default of bank loans worth nearly Rs 9,000 crores. He is currently in London and good times continue to be still rolling for him as a UK court just tripled his weekly allowance. He was arrested late last year hours after which he was given bail.
Lalit Modi (52), too faces charges of swindling money, including siphoning off Rs 125 crore from the BCCI, the cricket board. The ED is pursuing 17 cases of financial impropriety against Lalit and other former office bearers of the Board of Control for Cricket In India-Indian Premier League (BCCI-IPL) under the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA) for an amount of over Rs 2,200 crore. Lalit Modi left India in 2010. He did not return despite a series of summons by investigating agencies, prompting courts to issue non-bailable warrants and sanction for initiating extradition proceedings.
The CBI has registered a case against aviation consultant Deepak Talwar, an NGO linked to him, and others for allegedly 'misutilising' over Rs 90 crore in funds taken through the foreign funding route as part of the corporate social responsibility (CSR).
He is accused of concealing an income of over Rs 1,000 crore. Talwar fled India and is currently in the UAE, where he has been barred from leaving the country.