It was so easy for the diamond merchant Nirav Modi to flee the country without having to worry about his future and he is safe now. Nirav Modi is accused of infamous Punjab National Bank (PNB) fraud case with Rs 13,600 crore via fraudulent LoUs and Foreign Letters of Credit.
He allegedly looted India of crores of rupees and left the country and move to the UK because it has strict extradition laws. Nirav Modi is believed to have escaped India and travelled to the UK before an FIR was filed against him.
Even at the request of India police, he alleged cites security concerns as an excuse. So far, India has been trying hard to extradite him and other businessmen involved in looting the country of crores of rupees but the UK government isn’t handing them over.
However, he is afraid to return to India as he fears for his life. Advocate Vijay Agarwal who is appearing on behalf of him in special court added that his client had continued contacting with the Enforcement DIrecrorate and cannot be declared a Fugitive Economic Offender.
Nirav, a frequent feature on the lists of rich and famous Indians since the year 2013, was booked by the Central Bureau of Investigation (CBI), along with wife, brother and business partner Choksi on January 31 for allegedly duping the state-run Punjab National Bank to the tune of over Rs 280 crore.
“I am being compared to Ravana, my effigies were burnt during Holi in India. Will I not be worried about my security? My inability to return due to such reasons is being called my refusal to return,” Nirav Modi’s lawyer tells the special court in Mumbai today according to the Indian Express.
“The main reason the ED is seeking to declare Nirav Modi a fugitive is that he left India under suspicious circumstances on January 1, 2018. However, there was no criminal case (against him) when he had left the country,” Agarwal said. “They cannot just say that he left the country under suspicious circumstances. They need to specify what those suspicions were. Also, there is no material on record to say that he is refusing to return to India,” he said.