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PNB fraud case: Special PMLA court issues non bailable warrant against Nirav Modi

By Vikas
|

The special PMLA court in Mumbai issued a non-bailable warrant (NBW) against fugitive diamantaire Nirav Modi in connection with the Punjab National Bank loan default case. Nirav Modi and his family left India in January before the CBI and ED started investigating him and his uncle Mehul Choksi for swindling PNB of more than Rs 13,000 crore through their companies using fraudulent LoUs.

Nirav Modi

Earlier today, it emerged that Nirav Modi had fled to the United Kingdom and was said to be seeking political asylum. The Financial Times while quoting British and Indian officials said the PNB fraud accused is currently in the UK.

The FT reported that Modi is in London to claim asylum from what he calls as political persecution. The report while citing officials from the Ministry of External Affairs said that they were waiting for the law enforcement agencies to approach them before seeking extradition.

Meanwhile, the Central Bureau of Investigation (CBI) has approached the Interpol seeking red corner notices (RCN) against Nirav Modi and his uncle Mehul Choksi.

[Nirav Modi flees to London, seeks political asylum]

The centre is already seeking extradition of Vijay Mallya who is also in the UK.The police filed charges against several persons in May including Modi and his uncle Mehul Choksi. Both have denied any wrongdoing. Last month several executives of the ban were named in the chargesheet. They were charged with misleading the RBI in 2016.

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