PNB fraud accused Nirav Modi flees to UK seeking political asylum

Absconding diamantaire Nirav Modi, who is the key accused in over Rs 11,000 crore Punjab National Bank fraud, has fled to the UK to seek political asylum.

According to a report published in The Financial Times, “Officials in India and the UK say he (Nirav Modi) is in London, where his company has one store and is trying to claim asylum from what he said was political persecution."

Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country’s second-largest lender, to the tune of more than Rs 11,000 crore.

Reacting to Nirav Modi's presence in the country, UK Foreign Office officials said that there was a legal procedure and he will also have to go through that.

“There are always a number of complicated cases that add a little tension and spice to our relationship with India. But there is also an appreciation from both sides that we have a legal process that has to be gone through and that we are of course governed by human rights legislation,” a senior UK Foreign Office official was quoted as saying by the report.

The CBI had in May filed two charge sheets in the case before a Mumbai court. The ED has also filed its charge sheet in the case involving Nirav Modi and his associates, officials in New Delhi said.

India is also trying to get liquor baron Vijay Mallya extradited. Mallya is on trial for the UK court to rule if he can be extradited to India to face charges of fraud and money laundering amounting to around Rs 9,000 crore.

(With inputs from PTI)