The Hon’ble High Court of Justice, King’s Bench Division, London(UK) has today dismissed the appeal of fugitive accused Mr.Nirav Deepak Modi in extradition matter.

On 25th February, 2021, the District Judge, Westminster Magistrates’ Court had handed down his decision and found that there were no bars on the extradition of Mr. Nirav Modi & the Court had sent the case to Secretary of State, U.K. On 15th April, 2021, the Secretary of State ordered Mr.Nirav Modi’s extradition to India. Mr.Nirav Modi filed application before the Hon’ble High Court of Justice, London (U.K.) seeking permission to appeal on multiple grounds. On 9th August, 2021, the High Court of Justice, London gave Mr. Modi the permission to appeal on the following two grounds:-

His extradition would be incompatible with his convention rights under Article 3 of European Convention on Human Rights; and it would be unjust or oppressive within the meaning of Section 91 of UK Extradition Act 2003 to extradite him by virtue of his physical & mental condition. All other grounds of appeal were rejected.

The today’s judgement of UK High Court is a significant achievement in the context of CBI's efforts to curb corruption and is a reminder that fugitives, who have eluded the process of law after commission of large value frauds, cannot consider themselves above the process merely because they have changed jurisdictions. The CBI took painstaking efforts in effectively presenting the facts before the Hon’ble Court, especially since Mr.Nirav Modi had raised various issues with regard to prison conditions, availability of health facilities in India etc.

Mr. Nirav Modi was arrested on 19th March, 2019 in U.K. on the basis of extradition request of Government of India to face trial in multi-crore bank fraud case in India. After his arrest, he has filed several bail petitions which were strongly opposed and all the bail petitions were rejected by the courts in U.K.

CBI had registered the case on 31.01.2018 against the partner of three private firms and others including then officials of Punjab National Bank (PNB) on a complaint from Punjab National Bank on the allegations that the accused had hatched a criminal conspiracy amongst themselves to defraud the Punjab National Bank to the tune of Rs. 6,498 crore (approx) by fraudulently issuing Letters of Undertaking. During investigation, CBI conducted searches at 42 premises and arrested fifteen persons.

A large number of witnesses were examined and voluminous documents were collected. Investigation revealed that the accused officials of the Punjab National Bank, in conspiracy with said owners of the firms and others, had fraudulently issued a large number of LoUs to overseas banks for obtaining Buyer's credit in favour of said three firms without any sanctioned limit or cash margin and without making entries in the CBS system of the bank. Investigation further revealed that the fraud was allegedly perpetrated despite the circulars issued by RBI.

The first chargesheet was filed on 14.05.2018 against 25 accused including Nirav Modi. The second charge sheet was filed on 20.12.2019 against 30 accused including 25 chargesheeted earlier in respect of 150 outstanding fraudulent LOUs which had resulted in wrongful loss of Rs.6805 crore (approx.) to PNB including the interest and other charges paid by the bank to overseas banks which had extended the buyer’s credit to the said 3 accused firms of Mr.Nirav Modi on the strength of the fraudulent LOUs of PNB.

It was also alleged that Mr. Nirav Modi in conspiracy with other accused had siphoned off the funds obtained as buyer’s credit through dummy companies established by him in Dubai and Hong Kong which were shown as exporter of Pearls to 3 Nirav Modi firms and importer of Pearl studded jewellery from the said firms of Mr. Nirav Modi.

The accused Mr. Nirav Modi had escaped from India on 01.01.2018 before registration of case in CBI. Non bailable arrest warrant was issued by the trial court against Mr. Nirav Modi on 23.05.2018 and red notice was also issued against him on 29.06.2018 by Interpol. The first extradition request was sent by CBI to United Kingdom for extradition of Mr.Nirav Modi in August, 2018 for defrauding Punjab National Bank.

After second chargesheet was filed on 20.12.2019, additional evidences were submitted to the Court in London for the total fraud amount of Rs. 6805 crore (approx.). In addition, second extradition request for the offences of intimidating the witnesses and destruction of evidence was also submitted to the UK government.

The extradition proceedings against Mr.Nirav Modi were initiated before the Westminster Magistrate Court in London. In extradition requests, CBI submitted voluminous oral and documentary evidence to substantiate the charges of criminal conspiracy, cheating, criminal breach of trust, criminal misconduct by public servants,destruction of evidence and criminal intimidation of evidence. The hearing of first extradition request was held in Westminster Magistrates’ Court, London during May, 2020 and the hearing of second extradition request was held during September, 2020. The video of Barrack of Arthur Road Prison, Mumbai, submitted by Govt. of India was also played in the court. The hearing on admissibility of the evidence was held on 03.11.2020 and the final submissions by the both sides were made before the court in January, 2021.

CBI gracefully acknowledges the painstaking & continuous efforts made by the counsels of Crown Prosecution service in forcefully presenting Government of India's case and also the efforts of various Govt. agencies, especially officers of High Commission of India, London, Ministry of Home Affairs, Ministry of External Affairs, in coordinating the extradition trial, timely submission of evidences & assurances, and prompt follow up of the case at all stages.