PNB scam: ED to start extradition process for Nirav Modi after court's nod

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Market : A special court in Mumbai on Tuesday allowed the Enforcement Directorate's (ED's) plea seeking extradition of fugitive billionaire jeweller Nirav Modi in a money laundering case related to the $2 billion Punjab National Bank (PNB) loan fraud.

Judge M S Azmi allowed the central agency to initiate the extradition process.
ED counsel Hiten Venegaokar said the order would be sent to the Ministry of External Affairs, which would forward it to the UK government.

ALSO READ: PNB scam: Nirav Modi lived above his jewelry store in London, says report

The agency had moved the extradition application on Monday.

The ED is understood to have sought Modi's extradition from the UK, Belgium, and a few other countries, on the basis of a recent charge sheet filed by the agency under the Prevention of Money Laundering Act.

The court had last week issued a non-bailable arrest warrant against Nirav Modi after taking cognisance of the charge sheet.

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