The Ministry of External Affairs has submitted a request to Hong Kong authorities for provisional arrest of Nirav Modi, wanted in connection with PNB loan fraud, the government said on Thursday, 5 April.
“The Ministry has sought the provisional arrest of Nirav Deepak Modi by the Government of the Hong Kong Special Administrative Region, People’s Republic of China, for which a request has been submitted to them on 23 March, 2018,” VK Singh, the Minister of State in the Ministry of External Affairs, said in a written response to a question in the Rajya Sabha.
He was asked whether the ministry has any clue about the whereabouts of Nirav Modi and Mehul Choksi.
A provisional arrest is made pending a formal extradition request. Singh said the MEA had suspended passports of the two diamond merchants.
This was done after an FIR was registered against them by the CBI for an alleged fraud worth several thousand crores in the Punjab National Bank two months ago.
Modi and Choksi had fled the country after the alleged bank fraud came to light.
The MEA had served show cause notices to Modi and Choksi on 16 February, giving them a week to respond.
VK SinghSince they failed to respond within the stipulated time period, their passports were revoked on 23 February 2018.
Meanwhile, a US bankruptcy court on 29 March had allowed Nirav Modi’s Firestar Diamonds and other related companies to sell their assets.
According to The Mint, the court had invited bids for the numerous assets of the distressed companies till 27 April, following which the auction for the same would begin on 5 May.
(With inputs from PTI.)
