A court in the United Kingdom (UK) on Wednesday, 23 June, rejected a written plea by fugitive diamantaire Nirav Modi to appeal against his extradition to India. Modi, accused of scamming the Punjab National Bank (PNB) of around Rs 14,000 crore, had reportedly lodged the appeal in May.
According to The Times of India, Modi would now have to make his case at a brief oral hearing in the high court with a renewed “leave to appeal” application for a judge to determine if it can proceed to a full appeal hearing and has five business days to do so.
The development comes the same day the Enforcement Directorate (ED) said it has handed over assets worth Rs 9,371 crore belonging to Modi and two other fugitive businessmen – Vijay Mallya and Mehul Choksi – to state-run banks to realise the losses on account of the frauds committed by them.
The ED has booked the three on the basis of the FIR filed by the Central Bureau of Investigation (CBI).
Attachments of Assets of the Three Businessmen by ED
The ED on Wednesday also said that it has attached or seized assets worth Rs 18,170.02 crore, which included assets worth Rs 969 crore located in foreign countries.
It further said that recently, the agency has transferred shares attached by it, worth Rs 6,600 crore, to the SBI-led consortium as per order of PMLA Special Court, Mumbai.
“Today, DRT on behalf of SBI-led consortium, has sold shares of United Breweries Limited for Rs 5,824.50 crore,” it said, adding that further realisation of Rs 800 crore by sale of shares is expected by 25 June.
According to the ED, the three defrauded public sector banks by siphoning off the funds through their companies, which resulted in a total loss of Rs 22,585.83 crore to the banks.
(With inputs from The Times of India and IANS.)
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