Bank fraud: A hearing in the court of London will begin today in extradition case of fugitive diamond trader Nirav Modi. Lawyers of both sides have reached the court of London. The hearing will start sometime and it will be decided that Nirav Modi will get the bail or he will be kept in jail only, it can be decided in today’s hearing. The joint team of the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) is also in London to participate in the hearing. An official told that the team consists of joint director level officers of both the agencies.
Nirav Modi, arrested in connection with a loan of Rs 13,500 crore of Punjab National Bank, was arrested last week in London. Prior to the hearing in the Nirav Modi case, the ED and the CBI team met the officials there. If the CBI sources say that the new evidence will be presented to India by the court today.
ED will present the document (Bank fraud)
In today’s hearing, the team will present necessary documents other than copies of the chargesheet lodged against Nirav Modi, his wife Ami Modi and his uncle Mahul Choksi and others by CBI and ED. If sources of Indian agencies are to be believed, then they will try their best not to get Nirav Modi’s bail.
ED Nirav will present documents related to property worth Rs 147 crores of Modi and his associate companies. In the matter of PNB fraud, the ED had seized the property on February 26.
The joint team will provide these papers to local authorities in London and will help him in the hearing on Friday on Neerav Modi’s bail plea.
The accused businessman had obtained fraud worth Rs 13,500 crore through Letters of Undertaking (LOU) and Foreign Letters of Credit (FLC) from PNB. Nirav Modi was arrested in London on March 19, after the cancellation of bail plea has been sent to police custody till March 29.
204 total views, 2 views today