Interpol Issues Red Corner Notice Against Nirav’s Brother Nehal Deepak Modi In The Rs 13,500-Crore PNB Fraud Case

The Interpol has issued a Red Corner Notice (RCN) against fugitive diamantaire Nirav Modi's brother Nehal Deepak Modi, a Belgian national, in the Rs 13,500-crore Punjab National Bank fraud case.

According to Interpol, the Red Corner Notice has been issued against Nehal Modi on charges of the money laundering.

The Red Corner Notice has been issued against Nehal Modi at the request of the Enforcement Directorate (ED) which is probing the money laundering case against Nirav Modi, who is currently lodged in a London jail.

Incidentally, his sister Purvi Modi and his uncle Mehul Choksi of the Geetanjali Group also face charges of money laundering in the same case.

The ED had requested Interpol to issue an Red Corer Notice against Nehal for his role in allegedly helping Nirav Modi launder PNB funds. The ED probe has found that Nehal Modi intentionally assisted his brother in concealing the alleged laundering of money and destroying evidence.

The ED had registered the case of money laundering on the basis of the CBI FIR filed in February 2017. Nirav Modi and Choksi are being investigated by the ED and the Central Bureau of Investigation (CBI) after PNB alleged that they cheated the bank of Rs 13,500 crore with the help of some bank employees.

Nirav Modi and Choksi also face charges under the Fugitive Economic Offenders Act. Both had fled India before details of the fraud emerged in January 2018.

It may be recalled that the CBI tool had sought the permission of a New Delhi court to attach the properties of fugitive jeweller Nirav Modi, his brother and another accused in the Punjab National Bank (PNB) fraud.

The CBI had filed a petition before the CBI judge that the accused fled India before a case could be registered due to which warrants against them could not be executed.

The CBI petition had stated that while Nirav Modi was arrested in London and an extradition process is pending, the whereabouts of his brother and another accused, Subhash Parab, who was an executive in Nirav Modis company, are still unknown.