New Delhi: Fugitive diamond service provider Nirav Modi, one of many accused within the Rs 11,000-crore Punjab Nationwide Financial institution (PNB) fraud case, Thursday misplaced a bid to maneuver the UK Supreme Courtroom towards his extradition to India, technically exhausting all his authorized treatments to remain in Britain.

Nevertheless, he nonetheless has a political asylum request pending with the UK authorities, which is his final hope to evade extradition.

In case he’s granted asylum, he wouldn’t be extradited to India regardless of court docket orders. Modi had moved the request in 2018, when he had fled from India.

“So far as the extradition request from India is worried, in reference to Nirav Modi’s involvement within the multi-crore fraud, he has exhausted all his authorized treatments to remain again within the UK. This can be a huge victory for us and he ought to be despatched again to India for an extra probe after this,” a authorities supply stated.

“He, nonetheless, nonetheless has a request for political asylum pending with the UK authorities, which is a separate process. That’s his last-ditch try to evade extradition,” the supply added.

The Excessive Courtroom in London on 9 November had given the go-ahead for Modi’s extradition to India.

Modi had appealed towards the extradition saying he had “suicidal tendencies”. The Excessive Courtroom, nonetheless, rejected the plea after an assurance from the Indian authorities {that a} panel of consultants and medical doctors would care for Modi’s psychological situation and threat of suicide.

Modi’s counsel had additionally raised issues over the “poor situation of the jail” (Mumbai’s Arthur Street Jail), which might apparently put him at excessive threat of committing suicide.

Additionally learn: Nirav Modi to be stored in custody until 29 March after UK court docket denies him bail

An extended course of

Extradition is a long-drawn judicial course of that may be reviewed a number of occasions. For international locations which have a treaty with the UK, extradition requests require selections by each the house secretary and the courts.

As soon as a request is made, the house secretary has to certify the request, after which the listening to within the case begins. For a choose to move an order in favour of the nation demanding extradition, they need to be happy that the individual will get a good trial within the requesting nation and that their human rights won’t be violated after being extradited.

If the choose is happy that the individual might be extradited, the case is as soon as once more despatched again to the house secretary for a choice on whether or not to order extradition. The individual can problem this within the larger courts.

Equally, the choice of the Excessive Courtroom might be challenged within the Supreme Courtroom, however solely with the permission of the Excessive Courtroom — which was denied in Modi’s case.

What’s the PNB fraud?

The fraud was detected at PNB’s Brady Home department in Mumbai after it was discovered that some letters of endeavor (LoUs) and international letters of credit score (FLCs) have been fraudulently issued to some abroad branches of Indian banks by misusing SWIFT, a messaging community that banks use to securely transmit info and directions by a system of codes.

It was in the course of the scrutiny of SWIFT information that the rip-off got here to the fore.

PNB, in its grievance to the Central Bureau of Investigation (CBI), instantly accused Modi, his spouse Ami, brother Nishal, and businessman uncle Mehul Choksi of conniving with two financial institution officers to commit the fraud.

In line with the investigators, 293 LoUs have been issued to Modi and his firms in 2017 and 2018.

An LoU is a assure given by a financial institution department in India to an abroad financial institution that it’ll meet the legal responsibility if the borrower defaults.

Throughout investigation, a number of raids have been carried out within the case. The Enforcement Directorate has, till now, searched greater than 251 properties throughout India.

It has additionally seized diamonds, jewelry, treasured and semi-precious stones, and gold value crores, together with immovable properties belonging to Modi and Choksi value Rs 8,000 crore.

(Edited by Nida Fatima Siddiqui)

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