The UK high court has refused fugitive diamantaire Nirav Modi’s application to appeal against his extradition to India. Modi, whose extradition to India was ordered last month by UK Home Secretary Priti Patel, had lodged an appeal last month.
Modi is being investigated in the $2 billion Punjab National Bank (PNB) fraud case. He was charged by the Indian government for criminal conspiracy, criminal breach of trust, cheating, corruption, money laundering, fraud, embezzlement and breach of contract in August 2018 in the PNB scam case.
Meanwhile, the Enforcement Directorate (ED) has transferred attached assets worth Rs 8441.5 crore to consortium of Public Sector Banks who had lent money to fugitive liquor baron Vijay Mallya, diamantaire Nirav Modi and his uncle Mehul Choksi. Vijay Mallya, Nirav Modi and Mehul Choksi have defrauded the Indian PSBs to the tune of Rs. 22,585.83 crore.
In May, Prime Minister Narendra Modi discussed extradition of Vijay Mallya and Nirav Modi with United Kindom. The issue of extradition of Vijay Mallya and Nirav Modi figured in a virtual summit between India and the UK, with Prime Minister Narendra Modi asserting that economic offenders should be sent back to the country at the earliest for trial. India has been pressing the United Kingdom to extradite Mallya and Modi to face trial in India for their alleged involvement in cases relating to financial fraud.