Here is a list of economic offenders who fled India after being named in massive loan frauds


Diamond dealer Nirav Modi, who was wanted in India for fraud and money laundering in the Punjab National Bank (PNB) scam case, on Thursday lost his legal battle against extradition as a British judge ruled that he had a case to answer in the Indian courts.

In recent years, the central government has spared no effort to extradite all businessmen who fled the country after charges of financial irregularities and fraud were brought against them by investigative agencies.

According to a report published in Business Today in September last year, Union Minister Anurag Thakur informed parliament that a total of 38 economic offenders, including Nirav Modi, Vijay Mallya, Mehul Choksi, fled the country. over the past five years. He responded to a question from MP Dean Kuriakose about whether the Center has data on businessmen who have managed to flee to other countries after being cited in fraud cases during over the past five years.

In light of the Nirav Modi extradition case, News18.com compiled a list of a few businessmen, who managed to flee the country after being named in allegations of massive loan fraud. Looked:

1. Vijay Mallya

Liquor baron Vijay Mallya left India on March 2, 2016 after defaulting on a loan of Rs 9,000 crore he had taken out for his late Kingfisher Airlines. He currently lives in the UK and has been declared a fugitive by the Indian government. Mallya is wanted by the Directorate of Enforcement (ED) in connection with a money laundering case. He was arrested on an extradition warrant by Scotland Yard in April 2017, but is currently out on bail.

In 2019, UK Home Secretary Sajid Javid approved Mallya’s extradition order, clearing the gates of his return to India. Even after losing his extradition battle in British courts, acting British High Commissioner Jan Thompson said he had yet to “resolve” all the legal issues surrounding his return to India, such as the reports The Hindu.

2. Mehul Choksi

Jeweler Mehul Choksi is one of the main defendants in the case of the fraud on PNB loan of more than 13,000 crore rupees. He fled India and, according to ED and CBI, is based in Antigua and Barbuda. Modi, 49, is in a London prison after being held there by authorities in 2019 on the basis of a legal request made by the ED and the Central Bureau of Investigation (CBI) in the case. He is contesting the extradition to India. A Dominica court has “prevented” authorities from deporting fugitive businessman Mehul Choksi from the Caribbean island country until further notice, according to reports released on Friday. The order follows a petition filed by lawyers for Choksi, who was detained in Dominica for “. It was alleged that Choksi, his company Gitanjali Gems and others” committed the offense of cheating against the Punjab. National Bank colluded with certain bank officials by fraudulently obtaining the issued LOUs (Letters of Commitment) and FLCs (Foreign Letters of Credit) improved without following the prescribed procedure and caused undue hardship to the bank ”.

3. Sanjay Bhandari

Sanjay Bhandari, who was arrested on an extradition warrant in July 2020 and later released on bail, is now challenging his extradition to India. He is an accused arms dealer and wanted “declared offender” in India for money laundering. He is wanted by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for money laundering prosecutions contrary to the prevention of money laundering. Act of 2002. He faces lawsuits against him in India filed by investigative agencies.

Sanjay Bhandari has reportedly been linked to the husband of Congress leader Priyanka Gandhi, Robert Vadra, who has denied any business connection with the accused.

4. Hitesh Narendra Bhai Patel

Hitesh Patel, accused of fraud on a Rs 8,100 crore bank loan allegedly perpetrated by the Gujarat-based Sterling Biotech group, was arrested in Albania on the basis of an Interpol advisory issued against him by the ED. Indian investigative agencies are now trying to extradite Patel, who is an American citizen, and are in constant contact with Interpol and the Albanian authorities.

5. Ashish Jobanputra and Priti Jobanputra

A money laundering case was filed in 2017 against Ahmedabad-based textile importing company ABC Cotspin. Since then, the ED has been looking for its promoters Ashish Jobanputra and Priti Jobanputra. In the Rs 800 crore fraud case, the company allegedly took advantage of the bill discount facilities of two banks – State Bank of India (SBI) and Bank of Baroda (BoB) – against LC of other leading banks, as ThePrint reported. The couple managed to flee India and the affair was quickly broken up and the two are now believed to be in Los Angeles.

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