The UK High Court has rejected the application of fugitive diamond merchant Nirav Modi to appeal against the extradition to India. Britain’s Home Minister Priti Patel had ordered the extradition of 50-year-old diamond merchant to India on 15 April 2021, wanted in a bank fraud of Rs 13 thousand crore. It is believed that now the way for Nirav Modi’s return to India can be cleared.
On February 25, a UK court ruled in favor of the extradition of Nirav Modi. Nirav Modi then filed a petition in the High Court against the Westminster Magistrates’ Court order directing his extradition to India and approval by UK Home Secretary Priti Patel on April 15.
The Westminster Magistrates’ Court on February 25 ordered the deportation of Nirav Modi to India to face trial on charges of cheating Punjab Bank of $2 billion. Nirav Modi has been in Wandsworth Prison in south-west London since his arrest on 19 March 2019.
Earlier, the Enforcement Directorate (ED) on Wednesday said that public sector banks that suffered losses due to financial frauds committed by fugitive businessmen Vijay Mallya, Mehul Choksi and Nirav Modi have been seized Rs 9371.17 crore. The property has been transferred.
According to the report, the property of the three absconding accused will be compensated for the loss due to their fraud. The total assets attached by the Enforcement Directorate is Rs 18,170.02 crore. ED has given this information by tweeting on Wednesday.
The financial probe agency said the Enforcement Directorate not only attached assets worth Rs 18,170.02 crore (80.45% of the total loss caused to banks) under PMLA in the case of Vijay Mallya, Nirav Modi and Mehul Choksi, but also attached/attached assets worth Rs 9371.17 crore. A part of the seized property was also transferred to the PSB and the central government.
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