Monday, 18 June, 2018

CBI seeks Red Corner Notice against Nirav Modi

Nirav Modi may have taken the Vijay Mallya of going to UK to evade the law enforcement officials Indian jeweller accused of multi-billion dollar fraud flees
Priscilla Morrison | 12 June, 2018, 11:37

On February 15, 2018, the ED had registered a money laundering case against Nirav Modi and others under the provisions of the PMLA on the basis of an FIR registered by the Central Bureau of Investigation.

The Indian government is now seeking the extradition of liquor tycoon Vijay Mallya, who fled to Britain in 2016, over unpaid loans to his Kingfisher Airlines.

PNB, in its complaint, directly accused Modi, his wife Ami, brother Nishal, and Choksi of conniving with two bank officials to commit the fraud.

The CBI has asked the Interpol to issue a Red Corner Notice against absconding billionaire jeweller Nirav Modi in the over Dollars 2 billion banking scam involving Punjab National Bank, officials said today.

Punjab National Bank has alleged that two jewelry groups headed by Nirav Modi and his uncle Mehul Choksi defrauded it of about US$2.2 billion via transactions that date back to 2011.

A spokesman for Britain's Home Office said it does not comment on individual cases.

Modi, whose celebrity clients have included actress Naomi Watts and Kate Winslet, is accused of involvement in a $1.8 billion scam against Punjab National Bank (PNB), India's second-largest state-run lender.

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Several Indian courts have issued arrest warrants over his failure to appear before them since he fled.

According to the media reports, Nirav Modi is trying to look for advocates who will help him sustain in Britain.

Last month, External Affairs Minister Sushma Swaraj had said Prime Minister Narendra Modi had conveyed his unhappiness to his British counterpart Theresa May over focus on conditions of Indian prisons during court hearings on Mallya's extradition.

Mallya is wanted in connection with allegedly unpaid loans to his beleaguered Kingfisher Airlines after he absconded to Britain in 2016.

The confirmation of Modi being in the United Kingdom came during a meeting Minister of State for Home Affairs Kirren Rijiju with British Minister of State for Countering Extremism Baroness Williams in New Delhi.

India's PTI news agency quoted unnamed sources as saying that Williams confirmed in the meeting Modi's presence in Britain but that she had promised London's full cooperation.

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