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CBI asks Interpol to issue arrest notice for billionaire jeweller Nirav Modi: police source

Reuters  |  NEW DELHI 

(Reuters) - The has asked to help locate and arrest billionaire Nirav Modi, who is at the heart of a $2-billion-plus fraud case, a CBI source said on Monday.

The source said CBI had asked to issue a "red notice" arrest order.

reported on Sunday citing Indian and British officials that Modi, who police have charged in relation to India's biggest fraud, had fled to the claiming political asylum.

Punjab National Bank, India's second-largest state-run bank, said earlier in 2018 that two headed by Modi and his uncle had defrauded it of about $2.2 billion by raising credit from other Indian banks using illegal guarantees issued by rogue PNB staff.

Modi and Choksi, who have both denied wrongdoing, left before the details emerged and their whereabouts is unknown. Their passports have since been revoked.

CBI filed charges against more than 25 people in May including Modi, Choksi, former PNB chief Usha Ananthasubramanian, two of the bank's directors and three companies belonging to Modi.

(Reporting by and Malini Menon; Editing by Toby Chopra)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 21:36 IST
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