Nirav Modi extradition to India | Shock to Nirav Modi in UK court, application to stop extradition to India rejected
Nirav Modi  |  Photo Credits: BCCL
- Nirav Modi is accused of defrauding PNB of over Rs 14000 crore.
- Nirav Modi ran away before the PNB scam came to light.
- Nirav Modi is facing a case of fraud and money laundering.
There has been a way to bring fugitive diamond trader Nirav Modi, accused of PNB scam and money laundering, to India. Because the UK court on Wednesday (June 23) rejected the application to stop the extradition of Nirav Modi to India. Nirav had filed an application for permission to appeal against this order in the High Court of London. The High Court judge decided “on the papers” presented for appeal and determined that the Westminster Magistrates’ Court’s February decision in favor of extradition to Modi to face charges of fraud and money laundering was warranted. There is no basis.
Nirav Modi is accused of fraud and money-laundering in taking a loan of $2 billion (over Rs 14000 crore) from Punjab National Bank (PNP) in India. He had fled the country a few months before the scam came to light in 2018. The CBI had also issued a red corner notice against Nirav Modi.
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