Insta
Another Extradition On The Cards? Interpol Issues Red Corner Notice Against PNB-Fraud Accused Mehul Choksi
Swarajya Staff
Dec 13, 2018, 01:27 PM | Updated 01:27 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Interpol has issued a ‘Red Corner Notice’ against businessman Mehul Choksi today (13 December 2018), Times Of India has reported. Choksi is accused of cheating Punjab National Bank (PNB) in a Rs 14,000 crore fraud.
The Red Corner Notice is an international arrest warrant issued by Interpol to member countries. Member countries are expected to arrest or detain the fugitive named in a red corner notice.
Choksi’s nephew Nirav Modi, sister Purvi Modi, and his brother Neeschal Modi are wanted by the Enforcement Directorate (ED) in the PNB fraud case. While Choki had acquired Antigua and Barbuda’s citizenship earlier, Purvi Modi is a Belgian National.
Choksi had allegedly misused Letters of Undertaking (LoU) and Foreign Letters of Credit along with assistance of some PNB employees to launder money. LoU is an assurance given by an Indian bank to a foreign branches of Indian banks. Nirav Modi has allegedly laundered Rs 6,000 crore.
Earlier in August, India had formally handed over the letter of extradition to the government of Antigua and Barbuda.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.