Mumbai court issues NBWs against Nirav Modi and Mehul Choksi

By

Isabelle Crossley

Published
Apr 9, 2018

On April 8, a Mumbai court issued non-bailable warrants (NBWs) against Nirav Modi and his uncle Mehul Choksi as they stand accused of what is being touted as the largest fraud in India’s banking history.

The diamond jewellery tycoons Nirav Modi and Mehul Choksi are still said to be on the run from the Central Bureau of Investigation (CBI) and their whereabouts is as yet unknown. It is believed that Modi is in Hong Kong and so the local government there has been requested to arrest him if found. It is also believed that Choksi is currently in America and both of their passports have been revoked.

The NBWs mean that, if captured, Modi and Choksi will not be granted bail. A CBI Spokesperson said: “A CBI (Central Bureau of Investigation) special court in Mumbai allowed the application of CBI for issuance of the NBWs against Nirav Modi and Mehul Choksi in the cases related to the PNB (Punjab National Bank) scam. NBWs against them have been issued.”

The reason that the court decided to issue NBWs is that neither Modi nor Choksi have joined the investigation despite being formally asked to do so several times. The CBI is also currently questioning several officers in overseas branches of the Indian banks exposed to the fraud which now totals 13,578 crore rupees (approximately two billion US dollars). As part of this, the officer who dealt with the duo’s businesses at Allahabad Bank in Hong Kong is undergoing questioning.