Economy

NiMo linked to United Kingdom asylum bid

NiMo linked to United Kingdom asylum bid”

The Central Bureau of Investigation (CBI) on Monday approached the Interpol seeking a red corner notice against billionaire jeweller Nirav Modi, who is at the centre of the over $2 billion PNB fraud case.

The confirmation that Nirav Modi is in the United Kingdom comes hours after worldwide business daily Financial Times, citing Indian and British governments, reported that the billionaire jeweller is in London where he is trying to claim asylum from what he calls "political persecution".

"The Mission has also submitted video and photographic evidences of the culprits to the Metropolitan Police and is following up with them", the official said. Besides, India has also made it clear that it will accept those Indians whose Indian nationality is established after verification within a fortnight.

His high-end eponymous brand has stores in several of the world's major cities and boasts celebrity customers including actresses Naomi Watts and Kate Winslet and Bollywood megastar Priyanka Chopra.

Nirav Modi is claiming political asylum in Britain after India's second-largest state-run bank alleged that two jewellery groups headed by the billionaire and his uncle Mehul Choksi had defrauded it of about $2.2 billion.

Britain's Home Office, which deals with the asylum requests, has reportedly refused to confirm or deny the reports of Modi seeking political asylum saying that 'it does not provide information on individual cases'.

This figure is said to be just a part of the total losses.

The Enforcement Directorate, India's financial fraud-investigating agency, had unsuccessfully approached Interpol in March for an worldwide arrest warrant.

The Narendra Modi government is already upset with Britain for not extraditing liquor baron Vijay Mallya back to India.

The PNB came to light as the Indian government tries to reduce crippling debts accumulated by state-run banks.

"The issue is progressing through appropriate legal channels".

Mallya is wanted in connection with allegedly unpaid loans to his beleaguered Kingfisher Airlines after he absconded to Britain in 2016.

The confirmation of Modi being in the United Kingdom came during a meeting Minister of State for Home Affairs Kirren Rijiju with British Minister of State for Countering Extremism Baroness Williams in New Delhi. "She has agreed to our request in giving full cooperation on Vijay Mallaya or Nirav Modi [issue]".



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