CBI to Approach Interpol for Red Corner Notice Against Nirav Modi, Mehul Choksi

NEW DELHI: After filing charge sheets against diamond merchant Nirav Modi and his uncle Mehul Chokshi, the Central Bureau of Investigation (CBI) will approach Interpol for issuance of red corner notice against the duo.

The agency earlier this month filed two separate chargesheets against the duo and other accused, including top brass of Punjab National Bank (PNB) and others, in the $2-billion fraud at PNB.

The red corner notice is the closest instrument to an international arrest warrant in use today. The said notice will aid in locating the whereabouts and arrest of Nirav Modi and Choksi.


According to investigative agencies, Nirav Modi is in London on Singaporean passport. Agency sources indicated that reaching out to Interpol is part of the formal process especially since the two are absconding and need to be arrested.

A Mumbai Court had issued non-bailable warrants against the duo, prime accused in a $2 billion fraud that’s being billed as the biggest in India’s banking history.

So far, the premier investigative agency has estimated that entities controlled by the two diamond merchants have used dubious letters of undertaking (LoUs) to defraud the banking system of Rs 13,578 crore.

The government had cancelled the passports of the two diamond merchants after the CBI filed the first case in February for illegally getting guarantee letters from the Punjab National Bank officials.

Since the fraud came to light in January 2018 followed by a complaint by PNB, probe agencies have cracked down on Modi and Choksi with the Enforcement Directorate (ED) seizing assets worth thousands of crores of rupees.

The CBI had examined officials of RBI, including a former deputy governor and three chief general managers and one general manager of RBI.