PNB FRAUD CASE : Fugitive Diamond Merchant Nirav Modi’s Extradition Trial to Begin Today in UK

London : Hearing on the extradition diamond businessman Nirav Modi’s India extradition case will begin in London’s Westminster Magistrate Court from today. Nirav Modi has criminal cases like cheating and money laundering. Earlier, the UK court canceled Modi’s bail application and sent him to judicial custody till 11 May. The extradition case will be heard through video conferencing.Nirav Modi is accused of fraud and money-laundering of two billion dollars (more than fourteen thousand crores rupees) loan from Punjab National Bank in India and has been declared a fugitive. He has challenged his extradition order in a UK court. Nirav Modi, 49, is currently in a jail in south west London.

The hearing in the case related to the application to be handed over Nirav Modi to India will go on for five days. The UK government had given approval for action on India’s application. The case has been filed by the two investigating agencies of India, the Central Bureau of Investigation and the Directorate of Vigilance. It is alleged that by showing fake consent of Indian bank, he took loan from banks in abroad and misappropriated that money.