Nirav Modi's extradition cleared by UK Home office, under court consideration: ED

NEW DELHI: The Enforcement Directorate said on Saturday that its extradition request sent to authorities in UK and two other countries, US and Egypt, against fugitive Nirav Modi is pending since June last year and the UK home office confirmed that the request has been certified by the home secretary and the same is currently under consideration of the Westminster magistrate court.


Modi was tracked by a journalist of a UK daily in London. The daily claimed on Saturday that the Indian fugitive businessman was staying in a London apartment and running his diamond trade with unrestricted access to banking facilities in UK.

Nirva Modi and his close associates have been accused of money laundering worth over Rs 13,500 crore involving fraudulent issue of Letters of Undertakings from Punjab National Bank by some of his entities engaged in diamond and jewellery exports.

During its investigation and money trail, ED has issued 18 letters rogatory (LRs) to Armenia, Belgium, China, France, Japan, Malaysia, Russia, South Africa, UAE, UK, US, Hong Kong, Singapore and Switzerland seeking transaction details of his entities. Extradition requests have been sent to US and Egypt, besides UK, for Modi and two of his close associates, Mihir Bhansali and Subhash Parab.

After his refusal to submit before investigation, a Mumbai court issued non-bailable arrest warrant against him last year and later a Red Corner Notice (RCN) was issued. The RCN was also issued against Modi’s brother Nishal Modi, sister Purvi and three other close associates—Aditya Nanavati, Mihir Bhansali and Subhash Parab.

The ED’s probe revealed that Modi’s firms, Diamond R US, Solar Exports and Stellar Diamond, Surat, were involved in fraudulent issue of Letters of Undertaking worth over $1,015 during February 2011 and May 2017 from PNB’s Mumbai branch. The agency registered a money laundering case against him and some of his close associates on February 14, 2018 and subsequently conducted searches at 75 premises. He was also summoned repeatedly for questioning.

“Nirav Modi was summoned thrice to appear before the investigating authorities. On the request of ED, his passport was revoked by the Ministry of External Affairs,” the agency said. Later, it filed an application before a special court in Mumbai to declare him a fugitive under the new Fugitive Economic Offenders Act that would help in confiscating his assets.

The ED has already attached assets worth over Rs 1,900 crore belonging to Modi and his associated entities, including Rs 960 crore of assets abroad in Switzerland, US, Dubai, Singapore and Hong Kong.

The agency has filed two chargesheets against Modi and associates accusing them of laundering Rs 13,500 crore Letters of Undertakings issued from PNB. First chargesheet was filed on May 24 last year, cognizance of the same has been taken by the court, and a supplementary chargesheet filed on February 28 this year.