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India
10 Sep 2018

#PNBScam: Interpol issues Red Corner Notice against Nirav Modi's sister

Interpol issues Red Corner Notice against Purvi Modi

Interpol has issued a Red Corner Notice (RCN) against Purvi Modi, a Belgian national and absconding billionaire jeweler Nirav Modi's sister, in connection with the alleged $2 billion PNB money laundering case, officials said Monday.

The notice, which acts as an international arrest warrant, states that Purvi Deepak Modi, 44, is required on charges of "money laundering".

Here are more details.

In context

Interpol issues Red Corner Notice against Purvi Modi

Red Corner Notice

RCN against Purvi was requested by ED

The RCN against Purvi was requested by ED, officials said.

The ED wants her to join investigations to take its probe in the case forward, they added.

It named her in its first charge-sheet in the case in March and charged her with laundering the alleged proceeds of crime generated by defrauding the Brady House branch of the Punjab National Bank in Mumbai.

Interpol notice

What's the benefit of RCN?

According to Interpol notice, Purvi speaks English, Gujarati, and Hindi.

Once an RCN is issued against a fugitive, Interpol asks its 192 member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin.

A similar Interpol notice was recently issued against Mihir R Bhansali, a top executive of Nirav Modi's US business concern.

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Explanation

What was the PNB scam?

A similar RCN was issued against Nirav Modi sometime back as part of a joint probe by the ED and the CBI in the case.

The case pertains to cheating the state-run Punjab National Bank through the fraudulent issuance of Letters of Undertaking and Foreign Letters of Credit worth over $2 billion by Nirav Modi and his uncle Mehul Choksi.

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