CBI-ED team to leave for UK for Nirav Modi extradition hearing

A joint team of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) will leave for London on Wednesday night to attend the extradition hearing of fugitive Nirav Modi.

Nirav Modi was arrested in London last week in connection with the Rs 13,500 crore Punjab National Bank loan default case, officials said.

The team is reportedly carrying copies of the chargesheets which the CBI and the ED have filed against Nirav Modi, his wife Ami Modi — a US national, his uncle Mehul Choksi and others, along with some other necessary documents.

According to official sources the team includes Joint Director-level officers of the two agencies. The ED is reportedly carrying the documents related to the Rs 147 crore property of Nirav Modi and his associate companies.

The 48-year-old diamantaire is accused of fraud and money laundering of over ₹14,356 crore from state-run Punjab National Bank in collusion with his uncle and Gitanjali Gems promoter Mehul Choksi.

Nirav Modi had left India days before the scam came to light in January 2018.

He was arrested from Holborn on behalf of the Indian authorities seven days after the Westminster Court issued an arrest warrant against Nirav Modi, who left India days before the scam came to light in January 2018.

On 21 March, Nirav Modi informed the Westminster Magistrates’ Court of his intention to contest India’s extradition request, and offered £500,000 as security to seek bail. The judge had however dismissed the request and asked the Metropolitan Police to keep him under its custody due to his involvement in fraud of high value funds and access to means of escape.