NEW DELHI/MUMBAI: In one of well coordinated operations, the Central Bureau Bureau Investigation (CBI) on Tuesday brought Subhash Shankar Parab, a close aide of fugitive diamond merchant Nirav Modi to Mumbai. He was intercepted in Egyptian capitak Cairo and was brought to Mumbai.
CBI is probing Rs 7,000 crore Punjab National Bank (PNB) fraud case has launched an intense operation with the help of Interpol to bring Subhash Shankar Parab to India. Parab had deposed against Indian Government’s plea to extradite Nirav Modi and also denied all the charges labeled against him.
According to CBI officials, Parab was brought to Mumbai and arrested. He is being seen as a big catch by the Indian agencies as the case against Nirav Modi’s extradition will become stronger, officials added.
He was produced before a Mumbai court, which sent him to 14 days CBI custody till April 26.
Parab is a co-accused in the PNB fraud case and had fled from India in 2018. Parab had left India around the time when Modi and co-accused Mehul Choksi in Rs 13,500 crore fraud case, hasd given the probe agencies the slip.
Parab, 50, an employee of Modi’s firm Firestar International Pvt Ltd (FIPL), had earlier claimed that he was in “illegal confinement” of two Egyptian associates of the diamond merchant.
A Red Corner Notice (RCN) was issued by Interpol in July 2018, along with Modi under charges of criminal conspiracy, breach of trust, cheating, and dishonestly inducing delivery of property.
Parab, according to the CBI and Enforcement Directorate (ED) , was in-charge of monitoring incoming and outgoing transactions of six Hong Kong companies that received over Rs 8,200 crore from the letter of undertakings (LoUs) issued by PNB, on behalf of Modi.
Nirav Modi and his uncle Mehul Choksi have been declared fugitive economic offenders. Modi is currently in jail in the United Kingdom, while Choksi is currently in Antigua and Barbuda, a tiny country in the Caribbeans.