Nirav Modi, the 50 year old jeweller who robbed thousands of crores of rupees from Indian public sector banks, is finally being extradited to India to face the trial as per Indian laws. The Boris Johnson led United Kingdom government has approved the extradition of the fugitive who was trying to escape from the law of the land for the last few years.
Previously, the UK Supreme Court ruled in favour of Indian investigation agencies and approved the extradition of the 50 year old fugitive. However, the court put the final decision in the hands of the UK government – the Ministry of Home and Ministry of State.
Declaring it was satisfied with all conditions necessary for Modi’s extradition, the court had said, “Therefore, in accordance with S.87(3) EA 2003 I am sending this case to the Secretary of State for a decision as to whether Nirav Modi is to be extradited.”
The UK government could have saved Nirav Modi but given the fact that in today’s world, no country wants to irk India – a rising power – the Home Secretary and Secretary of State put a stamp on extradition.
While the scales remain tilted against the fugitive billionaire, his journey from being the celebrity face of multiple jewellery brands to being wanted by Interpol is certainly one to ponder upon. Nirav Modi’s diamond boutique in Kala Ghoda, Mumbai had become the epicentre of one of the largest banking frauds detected in the country when he along with his uncle Mehul Chowksi had allegedly orchestrated the PNB Fraud Case. The case relates to deceiving the bank through fraudulent letters of undertaking and letters of credit worth 14,356.84 crores issued by the PNB.
Nirav Modi has allegedly siphoned off Rs 13,500 crore from the PNB in connivance with his uncle Mehul Choksi and bank officials at PNB’s Brady House branch in Mumbai. On discovery, the bank had suspended 10 officers and had referred the matter to CBI for investigation, along with a warning for the other banks of the modus operandi used by the bank officials.
While the likes of Vijay Mallya and Nirav Modi can certainly buy time by appealing to higher courts or seeking asylum, it will only buy him a few months as he can only delay the inevitable. It is now a certainty that the Arthur Road jail will be Nirav’s new home because, under the Modi government, no person who siphons off the taxpayer’s money can go unpunished, be it a small time bureaucrat or big time businessman.
