Three years ago, at the same time, Nirav Modi, who defrauded Punjab National Bank for thousands of crores of rupees, was in the Indian media as well as in the global media. He was last seen publicly in the last week of January 2018 at the World Economic Forum meeting in Davos, Switzerland. On 29 February, PNB lodged an FIR against Nirav and his associates in India but Nirav disappeared. After this, his family also disappeared from India. Nirav had already got a glimpse of the complaint and the FIR. Nirav, India's largest bank fraudster of PNB's 14 thousand 500 crore rupees, became a fugitive from the diamond brand overnight. Canada's investigating agency, Interpol, and the US FBI, along with India's investigative agencies, also want to prosecute Nirav in various cases. Now, three years later, after the order of the British court, the way for bringing Nirav to India is almost cleared. Read how a diamond became a scammer from a business brand.
Dad-Dada Sab diamond business started business with uncle Choksi
Nirav was raised in Belgium. Dada Keshavlal used to do a diamond business in Surat. Father Deepak also lived in Surat for some time, then moved to Belgium in 1960. Deepak from Antwerp, Belgium would sell diamonds in India by bringing uncut diamonds. Nirav attended Wharton School in 1989 but had to drop out due to the family's financial situation. In 1990, at the age of 19, he started diamond work in Mumbai with uncle Mehul Choksi. In an interview, Nirav had said that he used to get just Rs 3500 for 12 hours of work here.
Inaugurated by Trump, Kate wore her jewelry at the Oscars ceremony
According to several media reports, many Hollywood celebrities, including Trump, were present at the opening of the jewelry store on Madison Avenue in New York in 2015. It is said about Nirav that due to the glare of celebrity, people used to get caught in his bluff. In February 2016, Kate Winslet walked on the red carpet wearing 100-carat white diamonds from the Nirav Modi brand at the Oscars ceremony. Nirav made a Lotus necklace from a 12-carat diamond emanating from the Golconda mine. During the auction in Hong Kong, the diamond was sold for Rs 16 crore.
Increased business in a recession, focused on designing with diamond cuttings
Nirav started selling diamonds carved through the Fire Star Company abroad. But he saw that there is a loss of diamonds in making ornaments made from carved diamonds later. So he started supplying diamonds according to the demand and requirement of jewelry. Nirav's fortunes were reversed in the 2008 recession when he took advantage of the recession and bought precious diamonds. In the same year, on the demand of a friend, Nirav found a diamond from Russia and designed the earring himself. After this, Nirav started business in the direction of jewelry design.
Started a diamond business in 1999 under the name Fire Star.
In 2010 started the business of diamond jewelry under the name 'Nirav Modi Brand'.
In 2014, Delhi opened the flagship store in Mumbai in 2015, opened the boutique in New York, Hong Kong.
2018 moved to Dubai, Switzerland from there in January.
On January 29, 2018, PNB filed an FIR for cheating on Nirav, Mehul Choksi, and associates.
On February 16, 2018, ED seized jewelry worth Rs 5600 crore from Nirav's house, office.
On 2019 March 9, the newspaper The Telegraph confirmed Nirav's presence in London.
These major cases of extradition are also pending
Mehul Choksi: Took citizenship of Antigua
Mehul Choksi, a relative of Nirav Modi and co-accused in the PNB scam, has also left the country. He has taken citizenship of Antigua. The Indian government has appealed to Antigua to speed up the process of Choksi's extradition.
Lalit Modi: Extradition application pending in Britain
Lalit Modi, former IPL commissioner and accused of money laundering, is also in Britain. Modi, who started the IPL, has been accused of corruption in IPL 2010. He has been in the UK since then. The government is trying to extradite him.
Nadeem Saifi: Britain did not agree to extradite
Musician Nadeem Saifi, accused in the Gulshan Kumar murder case, has been in the UK since 1997. Britain did not approve of extradition despite several attempts by the Indian government. However, in 2002, the court acquitted him.
Zakir Naik: First Malaysia, now in UAE
Islamic preacher Zakir Naik is accused of money laundering and instigating religious sentiments. He first moved to Malaysia and then to UAE. The suspects in the terrorist attack in Dhaka had said to be influenced by Naik.
Vijay Mallya: 3 times applied in UK courts to stop extradition, dismissed each time
India had filed for the extradition of Mallya from Britain on 9 February 2017. Mallya filed an application to stop extradition to the local court citing the poor condition of jails in India, life-threatening. When the court dismissed it and sent it to the Foreign Secretary, he approved the extradition. Mallya challenged it in the High Court, but the application was rejected on 20 April 2020. After this, on 14 May 2020, the Supreme Court also rejected Mallya's application. Now only the European Human Rights Court can stop extradition to expert status.
The extradition treaty was signed between Britain and India in 1992, but it took 24 years to bring the first accused to India. Murder accused Sameerbhai Veenubhai Patel was extradited on 19 October 2016. At the same time, the second accused Sanjeev Kumar Chawla was brought to India from Britain in February 2020 a year ago. Bookie Sanjeev was arrested in the match-fixing case. That is, it has been successful in bringing only two accused from Britain in 28 years.
The extradition treaty with these major countries
Afghanistan, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Belgium, Bhutan, Brazil, Bulgaria, Canada, Chile, Egypt, France, Germany, Hong Kong, Indonesia, Iran, Israel, Kuwait, Lithuania, Malaysia, Mauritius, Mexico, Mongolia, Nepal, Netherlands, Oman, Philippines, Poland, Portugal, Russia, Saudi Arabia, South Africa, South Korea, Spain, Switzerland, Tajikistan, Thailand, Tunisia, Turkey, UAE, UK, Ukraine, US, Uzbekistan, and Vietnam.