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The Indian government has been attempting to extradite Nirav Modi from the UK to face charges of defrauding PNB of Rs 7,000 crore...
Digital Desk: Fugitive Indian diamond trader Nirav Modi lost his appeal to take his fight against extradition before the UK Supreme Court. Nirav Modi, who is presently jailed in Wandsworth Prison in London, now has no legal options in the UK.
Nirav Modi submitted an application to the UK Supreme Court last month asking for permission to appeal against his extradition to India. This came after the 51-year-old diamantaire lost an appeal against extradition on mental health grounds, with the court ruling that his risk of suicide was not sufficient and that deporting him to India to face fraud and money laundering charges would be either unjust or oppressive.
Nirav Modi left India when the Punjab National Bank (PNB) scam was exposed. Notably, Mirav Modi is the prime suspect in the Rs 13,000 crore PNB case.
The Indian government has been attempting to extradite Nirav Modi from the UK to face charges of defrauding PNB of Rs 7,000 crore, money laundering, deleting evidence, and intimidating witnesses.
In relation to the PNB scandal, Nirav Modi is the target of two different sets of criminal proceedings. The CBI is investigating a large-scale fraud against PNB including the fraudulent procurement of letters of undertaking (LoUs) or loan agreements, while the Enforcement Directorate (ED) is looking into the laundering of the proceeds of that fraud.
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