Special court permits ED to extradite Nirav Modi

A Special PMLA (Prevention of Money Laundering Act) court in Mumbai on Tuesday allowed an application of Enforcement Directorate (ED) seeking permission to start extradition of fugitive billionaire jeweller Nirav Modi in a money laundering case related to the USD 2 billion Punjab National Bank (PNB) loan fraud.

Judge M S Azmi allowed the central agency to initiate the extradition process. ED counsel Hiten Venegaokar said the order would be sent to the Ministry of External Affairs, which would forward it to the UK government.

The ED has filed a prosecution complaint against Nirav Modi and a non-bailable warrant has also been issued against him. The agency had sent a request for a Red Corner Notice against Modi, but the Interpol is yet to issue this.

It is understood that the extradition has been sought by the agency from the UK, Belgium and a few other countries.

It has been sought on the basis of a recent chargesheet filed by the agency against Nirav Modi and his family under the Prevention of Money Laundering Act (PMLA).

The Mumbai court had last week issued a non-bailable arrest warrant against Nirav Modi after taking congnizance of the chargesheet.

Nirav Modi is currently reported to be in Belgium, where he is said to have fled from the UK on June 12.