Heena Sharma Blog

  Nirav Modi , once touted as a billionaire designer diamantaire, and now wanted on charges of fraud and money laundering in the $2-billion (Rs 14,000-crore) Punjab National Bank scam case , was on Thursday ordered by a London court to be extradited to India, with the judge ruling that the 49-year-old did have a case to answer before Indian courts. The verdict will, as is the procedure in Britain, be referred to the country’s home secretary, Priti Patel, to authorise deportation at her discretion. But Nirav Modi is permitted to appeal against the ruling to the high court. After nearly two years of proceedings since he was arrested at the British capital’s well-known shopping precinct of Oxford Street, a district judge at the Westminster Magistrates’ Court, Samuel Goozee, ruled: “I am satisfied that there is evidence upon which Mr Modi could be convicted… A prima facie case is established…He has a case to answer for in India.” The Prime Minister’s Office has acknowledged it wa...

The Interpol has issued a Red Corner Notice (RCN) against Nehal Modi, brother of Nirav Modi, the main accused in the $2 billion PNB scam case , officials said on Friday. They said the global arrest warrant against the Belgian national Nehal, 40, has been issued on charges of alleged money laundering that is being probed by the Enforcement Directorate. Nehal Deepak Modi was born in Antwerp, Belgium and he knows languages such as English, Gujarati and Hindi, according to the RCN. Nehal has been named in the charge sheet filed by the ED in this case and he has been charged with destruction of evidence. Nirav Modi and his uncle Mehul Choksi are alleged to be the main perpetrators of India's biggest bank fraud that came to the fore last year. The Punjab National Bank is stated to be duped of nearly Rs 14,000 crore in this scam. Read More Article Source -> Business Standard

The UK High Court on Wednesday rejected Nirav Modi 's bail application, his fourth attempt as the diamond merchant fights his extradition from Britain to India in the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case. In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid Simler concluded there are "substantial grounds" to believe that the 48-year-old fugitive diamantaire would fail to surrender as he does possess the means to "abscond". Reiterating similar concerns as those raised by the lower court in the UK during previous bail hearings, Judge Simler ruled that after considering all the material "carefully", she had found strong evidence to suggest there had been interference with witnesses and destruction of evidence in the case and concluded it can still occur. "The applicant has access to considerable financial resources, supported by an increased [bail bond security] offer ...

MEA added India had sent request to Malaysia to extradite Naik and it was waiting for a response Current Affairs News : The government has left no stone unturned in convincing a UK court that fugitive businessman Vijay Mallya must be extradited to India, External Affairs Ministry spokesperson Raveesh Kumar said on Friday. "Extradition hearings have been going on. I understand that the closing submissions in the case have already been made. We now wait for the verdict. I can only assure you that we have left no stone unturned in our efforts to convince the courts that the extradition of Vijay Mallya to India should take place," Kumar told reporters in response to a question. In February 2017, India made a formal request to the UK for the extradition of Mallya, who faces charges of financial misconduct amounting to nearly Rs 90 billion in debt owed to Indian banks by his defunct Kingfisher Airlines. When asked about the location of fugitive...