Monday, December 5, 2022

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UK Court rejects Nirav Modi’s plea, orders extradition to India

London: The High Court in London on Wednesday rejected fugitive diamantaire Nirav Modi’s plea and ordered his extradition to India.

The diamond merchant faces charges of fraud and money laundering, amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case, news agency PTI reported.

The verdict was delivered by Lord Justice Jeremy Stuart-Smith and Justice Robert Jay, who presided over the appeal hearing earlier this year.

Modi, who remains behind bars at Wandsworth prison in south-east London, was granted permission to appeal against District Judge Sam Goozee’s Westminster Magistrates’ Court ruling in favour of extradition last February.

The 51-year-old is booked in a case relating to a large-scale fraud upon PNB through the fraudulent obtaining of letters of undertaking (LoUs) or loan agreements. Another case against Modi is related to the laundering of the proceeds of that fraud.

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