October 21, 2021

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Nirav Modi to be extradited to India to face charges of fraud and money laundering

Jailed diamond merchant Nirav Modi can be extradited to India to face charges of fraud and money laundering, a UK court ruled on Thursday. Stating that Modi’s link with the Punjab National Bank (PNB) officials has been established, the court said that the Central Bureau of Investigation’s probe demonstrates his control over dummy firms.
Modi, who is accused of fraudulently obtaining letters of undertaking or loan agreements and laundering the proceeds of that fraud, has been denied bail at both Magistrate and High Court level in the UK.
He is also accused of causing the disappearance of evidence and intimidating witnesses.
Prima facie CBI case has been established, the court said, adding that Nirav Modi and his brother conspired to defraud the PNB.
Calling the Indian judiciary independent, the UK judge said there was no evidence to suggest that if extradited, Nirav Modi will not receive justice.
Report by Chetali S M
Reported on – 25/02/2021

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