PNB scam: CBI set to issue red corner notice against Modi, Choksi

New Delhi: The CBI is all set to issue a “Red Corner Notice” (RCN) against diamantaire Nirav Modi and owner of Gitanjali Gems Mehul Choksi as part of its investigation into the multi-crore Punjab National Bank (PNB) fraud case. The agency, sources said, will get permission for issuing RCNs against the duo from the competent authority in a day or two.

“Since the CBI has already filed chargesheet in the PNB fraud case, the agency is now finalising RCNs against the duo. The process for getting the RCN issued against the duo has already been initiated. Request for issuing the notice will soon be sent to the Interpol,” sources said.

The chargesheet filed by the CBI in this case will certainly help the agency in expediting the extradition process against Nirav Modi and Choksi, they added.

The ministry of external affairs (MEA) had in February this year revoked the passports of Modi and Choksi, after the duo failed to furnish their replies to a notice from the MEA in the stipulated time of one week.

A Red Corner Notice is issued “to seek the arrest of wanted persons with a view to extradition or similar lawful action” in a criminal case probe. “Once an RCN is issued, the Interpol seeks to arrest the person concerned in any part of the world and notifies that country to take his or her custody for further action at their end,” sources said.

The CBI recently filed its first chargesheet in the alleged Rs 13,400 crore PNB fraud case involving Modi and his uncle Choksi.

In the chargesheet, the agency detailed the role of the bank’s former chief Usha Ananthasubramanian, who is now Allahabad Bank CEO and MD. The CBI chargesheet, filed in Mumbai Sessions Court, also named several other top officials of the bank including PNB executive directors K V Brahmaji Rao and Sanjiv Sharan, and general manager (international operations) Nehal Ahad. The agency, in its chargesheet, detailed the roles of Modi, his brother Nishal Modi and Subhash Parab, an executive in Nirav Modi’s company. The chargesheet basically deals with the first FIR registered in the case relating to the fraudulent issuance over Rs 6,000 crore of letters of undertaking to Diamond R US, Solar Exports and Stellar Diamonds.