PNB fraud: India can initiate extradition process against Nirav Modi, says UK
Business | Jun 14, 2018, 09:23 PM ISTThe extradition request will be first approved by the UK Home Office following which an extradition warrant can be issued.
The extradition request will be first approved by the UK Home Office following which an extradition warrant can be issued.
The issue of the final signing of the memorandum of understanding on illegal immigrants was raised by UK Minister of State for Countering Extremism Baroness Williams during her talks with Union Minister of State for Home Kiren Rijiju here yesterday.
According to sources, the panel headed by veteran Congress leader Veerappa Moily sought answers from Patel over bad loans, bank frauds, cash crunch and other issues during the meeting.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating PNB, the country's second largest lender, to the tune of more than Rs 13,000 crore.
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country’s second largest lender, to the tune of more than USD 2 billion.
The Income Tax Office today denied reports that evidence related to Nirav Modi and Mehul Choksi case were destroyed in the recent fire at the department's office in Mumbai's Scindia House.
The clarification came following media reports claiming the records were destroyed in the fire.
New Delhi also asked London not to allow the British territory to be used for anti-India activities by Kashmiri and Khalistani separatists.
The agency, empowered by the Union government to enact the new power in the country, will seek an official declaration to categorize Nirav Modi as a "fugitive" based on its prosecution complaint (charge sheet) filed before a special court in Mumbai last week under the Prevention of Money Laundering Act (PMLA).
The ED charge sheet focuses on the money laundering aspect and the role of Nirav Modi and others in perpetrating the alleged fraud, a senior official said.
The ED asked them to depose before the investigating officer of the case in Mumbai over the next few days.
Usha Ananthasubramanian, the Managing Director and CEO of the Allahabad Bank, who held the same position at Punjab National Bank from 2015 to 2017, had been named as an accused along with other senior officials.
Continuing his tirade against the PM, the Congress leader said that Modi was running away from debate in Parliament over issues like Rafale jet deal with France.
"We have requested the authorities in Hong Kong to surrender Nirav Modi," External Affairs ministry spokesperson Raveesh Kumar said.
Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs 13,000 crore through fraudulent Letters of Undertaking (LoUs).
China today said that Hong Kong can accept India’s request to arrest fugitive billionaire diamantaire Nirav Modi on the basis of local laws and mutual judicial assistance agreements.
Earlier on March 8, the investigative agency had sent summons to both Nirav and Choksi to join investigations as early as possible.
The group will also "make recommendations for policy decision in respect of tax risks of the migrating HNIW population".
Reacting to the development, the Congress party said it would keep raising voice against government's policies and its "failure" to check corruption.
Putting an end to confusion over the payment obligation towards other lenders, PNB also assured that it will honour all subsequent maturing LoUs and FLCs as and when they are due.
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