Nirav Modi (File photo)
In a major development related to the Punjab National Bank (PNB) scam, Nehal Modi, brother of fugitive diamond businessman Nirav Modi, has been arrested in America. The arrest was made by the US officials on 4 July, which was made on the basis of the extradition petition sent by the Government of India. This petition was jointly filed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
In the US, the process of extradition in two serious allegations against Nehal Modi is going on. The first money laundering i.e. wealth refinement, which comes under Section 3 of India's Money Laundering Act (PMLA) 2002. Second, criminal conspiracy and attempt to eradicate evidence, for which action is to be taken under Section 120-B and 201 of the Indian Penal Code (IPC).
Role in PNB scam too
Investigation agencies say that Nehal Modi is wanted in the PNB scam, which is considered to be the biggest banking scam in the country. Nehal is alleged to have transferred black earnings of thousands of crores of rupees through shell companies while helping his brother Nirav Modi. Apart from this, he also tried to destroy many important documents related to the scam.
Extradition hearing on 17 July
The hearing on Nehal Modi's extradition is to be held on 17 July 2025 in the US court, where the next direction of the case will be decided through the status conference. There is a possibility that he may file an application for bail, but the American side has already made it clear that he will oppose his bail. It is the effort of the Government of India to bring Nehal Modi to India as soon as possible so that a trial can be started on his role in the PNB scam.
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