Nirav Modi, who is the billionaire jeweller, also who have the heart of a more than Rs 13,400 core fraud case in India, has successfully fled to the United Kingdom. There Nirav is claiming a political asylum citing Indian as well as British officials. There was also a news that Nirav Modi was trying to hire a lawyer for helping him in getting political asylum in the United Kingdom. He visited around two firms in the country for seeking help.
But as per Britain’s Home office, it does not provide information on any individual cases. He is in London trying to claim asylum from what he calls “political persecution”, as per the source reported.
Earlier in 2018, there was a news that Punjab National Bank has reported two jewellery groups which were headed by Nirav Modi and Mehul Choksi, who is his uncle who defrauded a big amount of money which is near about $2.2 billion. The amount was defrauded by raising credit loans from overseas branches of other Indian public sectors banks by using illegal guarantees which were issued by rogue Punjab National Bank’s staff at one of its Mumbai branches over several years.
Already the country is seeking another business tycoon named Vijay Mallya seeking the extradition. Vijay Mallya is aviation and liquor tycoon has left over unpaid loans to his Kingfisher Airlines after he moved to Britain in March in the year 2017.
However, the external affairs ministry said, “the Indian government was waiting for the law enforcement agencies to approach them before pushing for an extradition, which had thus far not happened.”
The CBI department, i.e., Central Bureau of Investigation Department had charged files against the cases which is more than twenty-five people in the month of May. Among the twenty-five people, Nirav Modi is also included and also various other business tycoons such as Mr Choksi, Usha Ananthasubramanian, former chief of Punjab National Bank and two others executive directors of banks and companies.
The presence of another Indian figure in Britain has the potential to cause further discord in a fractious relationship with India. New Delhi is also pushing for the forced return from London of the drinks baron Vijay Mallya who has been accused of fraud charges.
Former RBI Governor YV Reddy said, “The taxpayers who have entrusted their money to the government-owned banks should be asking the government to explain why, as the custodian of their money, it failed to prevent the fraud.”
However, the senior officials of PNB were accused by the police officer for such fraudulant activities such as credit guarantees as well as approval of loans which are now at the centre of the fraud case.