International police organisation Interpol on Monday issued a Red Notice against absconding businessman Nirav Modi for money laundering in the Punjab National Bank scam case, which is estimated to have been worth over Rs 13,000 crore.
Red Notices seek the arrest of persons wanted in member countries' jurisdictions for the purpose of their extradition or prosecution.
Modi and his family are believed to have left India in January, a month before the PNB scam 'broke'. Modi and his uncle Mehul Choksi, who is also absconding, are accused of defrauding PNB using their diamond jewellery businesses.
The Interpol Red Notice is expected to boost the case of the Enforcement Directorate, which is investigating the PNB scam, to push for Modi's extradition from the UK. The ED had moved a special court in Mumbai last week to seek Modi's extradition.
Modi, Choksi and others are being probed by various agencies after the bank fraud came to light, following a complaint from PNB that they allegedly cheated the nationalised bank to the tune of over Rs 13,000 crore with the purported involvement of a few employees of the bank.
