Business/Economy

PNB Fraud case: UK May share details of the case with Nirav Modi

PNB Fraud case:  UK May share details of the case with Nirav Modi

Indian investigative authorities pushing for the repatriation of Nirav Modi were dealt a twin blow by British authorities today as they were told that their letter of request can be shared with the fugitive diamantaire. 
The letter of request contains details of the probe, all the proof and witness testimonies with the agency. 
Indian investigators are said to be irritated with the choice as these details can be employed by Modi in court to delay proceedings once the surrender matter comes up, revealed a leading English daily .
Multiple Indian agencies, who have sent the requests, have asked their counterparts in UK to not share the letters with Modi, the newspaper further reported. 

UK’s Serious Fraud department, that probes monetary frauds, has conjointly claimed that Modi might not have transferred the take of the over Rupees 13,000 Crore of PNB to London, it might have been transferred to “Dubai, Hong kong and or UAE” however to not the United Kingdom. 
“Is there any proof to counsel that criminal take are transferred to the United Kingdom? If so, are you able to please offer full particulars?” the SFO asked in a written communication.
 

An official, who is concerned within the probe, told the newspaper that the SFO’s stance shows kingdom was reluctant in taking action against Nirav Modi, who is hiding in London since June. 
“This might even be one among the explanations that they're not detaining him despite his presence there being confirmed virtually a month back,” he said. 
Modi and his uncle Mehul Choksi is suspected of defrauded PNB for years by raising foreign credit exploitation faux guarantees. 
The international police agency, Interpol, had in July issued letter of invitation to seek out and arrest Modi.
The ministry of external affairs had in August initial week confirmed that the house ministry had sent Associate in Nursing surrender request to the High Commission of Asian nation (HCI), London, for onward transmission to the united kingdom authorities.  
The MEA had conjointly revoked the passport of Modi on February 16, 2018. Modi and Choksi, both have denied any wrongdoing