Setback for Nirav Modi as UK High Court orders his extradition to India to face fraud charges

Nirav Modi was booked in the Rs 13,500-crore PNB fraud case, where it was claimed that companies controlled by him had benefited from issuance of fraudulent letters of undertaking from the bank.

Nirav Modi

The High Court in London on Wednesday rejected the appeal of fugitive diamond merchant Nirav Modi and ordered his extradition to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the Punjab National Bank (PNB) loan scam case, news agency PTI reported.

The verdict was delivered by Lord Justice Jeremy Stuart-Smith and Justice Robert Jay, who presided over the appeal hearing earlier this year.

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