The British court could deliver its verdict on February 25 on the extradition of fugitive diamond dealer Nirav Modi to India. Before a Westminster Magistrate’s Court in London, Judge Samuel Goozy, while confirming the time frame on Friday, said a verdict in the Nirav Modi case could arrive on February 25. After which Nirav Modi can be extradited to India to face charges of fraud and money laundering in connection with the National Bank of Punjab scam.
Punjab National Bank is the mastermind of the scam
It should be mentioned that Modi committed an almost $ 2 billion fraud with the Punjab National Bank (PNB). Various investigative agencies in India have registered charges against him. Modi’s assistant Mehul Choksi is also wanted in India in this case. India requests the extradition of the wanted accused through the British Crown Prosecution Service (CPS).
Was arrested in London in March 2019
Nirav Modi is currently being held at Wandsworth Prison in south London after being arrested in March last year. He is linked to Westminster Magistrate Court proceedings via a video link to the prison. Also in the UK, due to the Corona virus infection, legal proceedings are proceeding through Videolink itself.
Nirav Modi holds $ 180 million
According to Forbes, Nirav Modi’s total wealth in 2017 was $ 180 million (around Rs 11,700 crore). Nirav Modi’s company is headquartered in Mumbai. In March 2018, Nirav Modi filed a petition in New York City for bankruptcy protection.