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CBI Brings Close Associate of Nirav Modi, Subhash Shankar to India

The CBI is investigating a bank fraud case and is trying to reintroduce Shankar to the country. CBI has repatriated Subhash Shankar, a vital ally of the Nirav Modi, from Cairo, Egypt, to Mumbai, India, in a massive sting operation connected with the multi-crore Punjab National Bank (PNB) scam worth Rs 13,578 crore, according to the CBI sources.

According to officials, he has been running since the case involving diamond trader Nirav Modi and his uncle Mehul Choksi was leaked. At the request of the CBI, Interpol issued a red horn notice in 2018 against Nirav, his brother Nishal Modi and his employee Subhash Parab. Interpol Special Judge J C Jagdale issued a Red Corner Notice (RCN) based on the charge sheet filed by the CBI in the Mumbai Special Court and the arrest warrant issued for the investigation of over $2 billion in PNB scams.

In its Red Corner Notice given against the fugitive, Interpol asked its 192 member countries to arrest or detain the person if they were caught in their country, after which the extradition or deportation process could begin. In December 2021, parliament was told that 33 accused in bank fraud cases registered by the CBI had fled the country in the past five years.

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