A court in England has announced its verdict in Nirav Modi extradition case. The British court has allowed the fugitive diamantaire to extradite to India for a trail in the Punjab National Bank scam case. Nirav Modi is wanted in two cases in India registered by Central Bureau of Investigation and Enforcement Directorate.
Nirav Modi is the subject of two sets of criminal proceedings, with the Central Bureau of Investigation case is related to a large-scale fraud upon Punjab National Bank by obtaining illegal letters of undertaking (LoUs) or loan agreements. The Enforcement Directorate (ED) case is related to the laundering of the proceeds of that fraud.
Nirav Modi escaped to England after the cases were registered. He had tried six times to get bail after he was arrested in England. His extradition case began in March 2019.
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