Fugitive Nirav Modi was booked for Rs 13,500-crore Punjab National Bank fraud case, where it was claimed that companies controlled by him had benefited from issuance of fraudulent letters of undertaking from the bank.
UK High Court rejected the appeal of Nirav and ordered his extradition to India to face trial of fraud and money laundering according to Indian laws.
Neerav’s fraud case has been ruled out by the UK High Court after his request for an extended stay in London came to an end on Wednesday.
Since his arrest in March 2019, Neerav Modi has remained in UK police custody at Wandsworth Prison in south-west London. The Central Bureau of Investigation (CBI) case concerns a widespread fraud against PNB that involved obtaining letters of undertaking (LoUs) or loan agreements fraudulently, and the Enforcement Directorate (ED) case concerns the laundering of the proceeds of that fraud.
In the CBI case, two new accusations of “causing the loss of evidence” and “criminal intimidation to cause death” against him were also added.
Previously granted extradition permit on grounds of mental well-being issue under Article 3 of the European Convention on Human Rights (ECHR), and Section 91 of the Extradition Act of 2003.
An FIR filed by the CBI in accordance with Sections 420, 467, 471 and 120-B of the Indian Penal Code, 1860, and Section 13 of the Prevention of Corruption Act, 1988 which deals with misconduct by a public servant. Section 120-B deals with the punishable offences equalling to death.
Possible rescue?
Even though Nirav Modi’s appeal was denied by the High Court, he still has 14 days after the High Court’s ruling to appeal to the Supreme Court. But only if the Supreme Court accepts that his case concerns a legal issue of general public importance can he file a petition there.
The lawyers of Modi are yet to make any comments since the bench of the court led by Westminster Magistrates’ Court and District Judge Sam Goozee’s decision to rule out the request was made known to the public earlier this afternoon.