Fugitive diamantaire Nirav Modi's brother Nehal Modi has been arrested in the US on extradition request from CBI and ED.
Nehal Modi was taken into custody by the US authorities on Friday. The development comes following an extradition request jointly submitted by the ED and the CBI.
The next date for the hearing in the matter is July 17, when Nihal is expected to seek bail. However, the plea will be opposed by the US prosecutors, PTI quoted officials as saying.
Nehal is wanted in India in connection with ₹13,000-crore Punjab National Bank (PNB) fraud case, one of the largest banking scams in the country.
Nehal Deepak Modi, born and brought up in Belgium, is wanted in India for laundering proceeds of crime on behalf of his brother, Nirav Modi, who is lodged in a London prison facing extradition proceedings from the UK on an Indian request.
{{/usCountry}}Nehal Deepak Modi, born and brought up in Belgium, is wanted in India for laundering proceeds of crime on behalf of his brother, Nirav Modi, who is lodged in a London prison facing extradition proceedings from the UK on an Indian request.
{{/usCountry}}Nehal is alleged to have assisted in concealing and transferring large sums of illicit funds through a web of shell companies and overseas transactions, according to officials.
The Enforcement Directorate also alleged that after the PNB fraud came to light, Nehal, along with Nirav's close aide Mihir R Bhansali, "took 50 kg gold and substantial cash from Dubai, and directed dummy directors not to reveal his name before the authorities," according to PTI.