In a serious setback to fugitive diamond service provider Nirav Modi, a UK court docket on Thursday ordered his extradition in reference to the Rs 13,500 crore Punjab National Bank (PNB) mortgage fraud case, after virtually a two-year-long authorized battle.
The District Judge on the Westminster Magistrates’ Court, Samuel Goozee, accepted the prima facie proof towards Modi for cash laundering, saying, “Many of those are a matter for trial in India. I’m happy once more that there’s proof that he might be convicted,” in accordance with experiences.
Expressing satisfaction over the detention situation and medical preparations in India, the court docket stated, “Conditions in Barack 12 (on the Arthur Road Jail in Mumbai) look much better than his present cell in London.” The observations got here after Nirav Modi’s facet had argued that he cannot be extradited to India because of his worsening psychological well being in the course of the Covid-19 pandemic and the poor circumstances within the Indian prisons.
UK court docket orders Nirav Modi’s extradition however what’s next
- Although a UK court docket has ordered Nirav Modi’s extradition, his file will now be despatched to UK house office that might be having 28 days time to signal the file. The secretary of the house division has to signal the file.
- If Nirav Modi decides to not problem the choice of the court docket, the method of extradition will start as soon as the UK house office secretary indicators the file.
- If Nirav Modi decides to problem, then he can go to larger court docket after which to Supreme Court.
- He also can method UK human rights courts towards his extradition.
- Meanwhile, Ministry of External Affairs (MEA) stated the federal government of India will liaise with UK authorities early for the extradition of Nirav Modi to India.
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Charges towards Nirav Modi
The costs towards the fugitive diamantaire centre round his corporations Diamonds R Us, Stellar Diamonds and Solar Exports for making fraudulent use of a credit score facility provided by the PNB, referred to as ‘letters of enterprise’ (LoUs).
Arguing on behalf of the Indian authorities, the Crown Prosecution Service (CPS) within the UK had earlier sought to ascertain that quite a few PNB workers conspired with Modi to make sure the LoUs.
The LoUs had been issued to his corporations with out required credit score checks, sans recording the issuance of the LoUs and with out charging the required fee upon the transactions. This resulted in a fraud amounting to almost $2 billion (Rs 13,500 crore).
Nirav Modi was arrested on an extradition warrant
Nirav Modi was arrested on an extradition warrant on March 19, 2019 on costs of cash laundering, conspiring to destroy proof and intimidating witnesses.
Nirav Modi is going through probe by the Central Bureau of Investigation (CBI) for a large-scale fraud upon PNB by way of fraudulently acquiring LoUs or mortgage agreements. He can be being probed by the Enforcement Directorate (ED) in a case regarding the laundering of the proceeds of that fraud.
Meanwhile, he additionally faces two further costs of “inflicting disappearance of proof” and “intimidating witnesses” or “prison intimidation to trigger demise”, which had been added on to the CBI case.
The ED has connected a number of property of Nirav Modi working into crores of rupees in reference to the case.
Even Nirav Modi’s sister Purvi Modi, a Belgian nationwide, and her husband Maiank Mehta have turned approvers within the mortgage fraud case. The ED in January this yr had stated that each grew to become approvers for aiding the company within the confiscation of two flats in New York, and one every in London and Mumbai, and the stability mendacity in two Swiss financial institution accounts and a checking account in Mumbai, totalling to Rs 579 crore.
In June final yr, the ED had connected 4 financial institution accounts of Nirav Modi and Purvi, having a stability of Rs 283 crore, as a part of its investigation into the case.
Even Nirav Modi’s uncle, Mehul Choksi of Geetanjali group who’s believed to be in Antigua, is being probed in reference to the case.
(With inputs from IANS)
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