Nirav Modi and Mehul Choksi had committed Rs 13000 crore PNB fraud, which was largest ever scam in banking sector, causing massive crisis in Punjab National Bank. The reports had then indicated that in collusion with the bank officers, Nirav Modi had taken the bank for a ride by siphoning off such a huge amount in his diamond business. Both criminals escaped from the country and since then the case has been hanging fire, writes M Hasan
Lucknow, October 4: Five top investigating agencies of the country have assured the British court that Punjab National Bank looter Diamantaire Nirav Modi will not be interrogated by them in the event of the criminal’s extradition from UK to India and he “will only face trial” while being lodged in Arthur Road jail in Mumbai. Significantly Indian government, in order to demonstrate that living condition in the cell are of “European standards”, has also submitted a video of the prison cell where Modi will be lodged.
The assurance by the investigative agencies is sovereign guarantee from India, which will be submitted to Westminster Court by the Crown Prosecution Services (CPS). Presumably, India has never given such an assurance to any country while seeking extradition of a criminal who had looted the bank. It is indeed strange that when various investigative agencies are already probing banking fraud cases against him how they will go ahead without interrogating him. The assurance was jointly submitted by five Indian agencies: CBI, Enforcement Directorate, Income Tax, Serious Fraud Investigation Office (SFIO) and Customs. In 2018 the NDA government had passed Fugitive Economic Offenders Bill to empower probe agencies but now with this assurance he is unlikely to face probe agencies quizzing.
It may be recalled that nearly eight years ago Nirav Modi and Mehul Choksi had committed Rs 13000 crore PNB fraud, which was largest ever scam in banking sector, causing massive crisis in Punjab National Bank. The reports had then indicated that in collusion with the bank officers, Nirav Modi had taken the bank for a ride by siphoning off such a huge amount in his diamond business. Both criminals escaped from the country and since then the case has been hanging fire. The Indian government’s assurance has been necessitated following Modi’s fresh petition in Westminster Court to reopen the case to stop his extradition. The case is scheduled for November 23, 2025 hearing. Modi, who is in UK jail since March 2019 and UK High Court has already approved his extradition, has now been making last-ditch efforts to frustrate India’s effort for his extradition. He was arrested by Scotland Yard on the basis of India’s extradition request.
According information in the event of extradition Nirav Modi will only face trial in India for the offences of fraud and money laundering, for which his extradition was ordered earlier. Assurance has been given to the authorities in London that he will not be taken into custody or interrogated by any agency.
Nirav Modi was declared a fugitive economic offender under the FEO Act, 2018. His assets worth ₹2,598 crore have been attached by ED under the prevention of money laundering act (PMLA), and ₹981 crore has been restored to the victim banks. Indian agencies are also pursuing legal proceedings in the UK to transfer to India overseas assets worth ₹130 crore linked to Nirav Modi.
(M Hasan is former Chief of Bureau, Hindustan Times, Lucknow)
