Red Corner Notice against Nirav Modi soon: CBI
New Delhi, June 20: The Interpol will soon issue a Red Corner Notice (RCN) against diamond jeweller Nirav Modi, who is one of the accused in the Rs 13,500 crore Punjab National Bank fraud, officials said on Wednesday.
A Central Bureau of Investigation (CBI) official said that "we have expedited the process to issue a RCN against Nirav Modi" as it has been known that he travelled to multiple countries between February 10 and March 31 on revoked Indian passport.
The official said that the Interpol is likely to issue the RCN within a week.
The CBI officials said that a June 5 letter, shared by Britain, revealed that the fugitive businessman travelled from US' John F. Kennedy International Airport to Britain's Heathrow Airport on February 10, from Frank Pais Airport in Cuba to Heathrow on February 15, from Heathrow to Hong Kong International Airport on March 15, from there back to Heathrow on March 28 and from Heathrow to Charles de Gaulle Airport in France on March 31.
On June 11, the CBI approached the Interpol to issue a RCN against Nirav Modi. On June 13, it again approached the Interpol to issue a RCN against Nirav Modi's brother Nishal, who is a Belgian national, and his executive Subhash Parab.
The CBI sent the request to the Interpol after it filed the first chargesheet naming Nirav Modi, Nishal and Parab beside 18 others in a special court in Mumbai on May 14.
The CBI filed three FIRs between January and March to probe the PNB fraud. Most of the accused are common to these cases. The fraud was committed during 2011-17 by illegally issuing Letters of Undertaking (LoUs) and Foreign Letters of Credit (FLCs).
In its first chargesheet, the CBI alleged that Nirav Modi, through his companies, siphoned off funds to the tune of Rs 6,498.20 crore using fraudulent LoUs issued from PNB's Brady House branch in Mumbai. Meanwhile, his uncle Mehul Choksi allegedly swindled Rs 7,080.86 crore.
Nirav Modi left the country along with his family in the first week of January, weeks before the scam was reported to the CBI.
His wife Ami, a US citizen, left on January 6 and Choksi on January 4.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Ayush signs off with silver at Badminton Asia Championships
Ningbo (China) (PTI): India's Ayush Shetty signed off with a silver medal after his giant-killing run ended in a straight-game loss to world No. 2 Shi Yu Qi in the final of the Badminton Asia Championships here on Sunday.
The 20-year-old from Mangalore struggled to find his rhythm, going down 8-21, 10-21 to the reigning world champion from China, as India's 61-year wait for a men's singles gold at the event continued.
Despite the loss, it was a creditable campaign from the unseeded youngster, who became only the second Indian men's singles player after Dinesh Khanna to reach the final of the continental showpiece.
Khanna remains the only Indian singles champion at the event, having won the title in 1965. Since then, only the men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty have lifted the trophy, winning it in 2023.
World No. 25 Ayush entered the contest on the back of defeats to Shi at the Malaysia Super 1000 earlier this year and the Indonesia Masters last season. However, he had played with far greater control and attacking clarity this week, toppling world No. 1 Kunlavut Vitidsarn, world No. 4 Jonatan Christie and world No. 7 Li Shi Feng en route to the final.
However, the Indian, a product of the Padukone-Dravid Centre for Sports Excellence in Bengaluru, failed to counter the tactical discipline of Shi, who used his repertoire of strokes and deception to deny Ayush the opportunity to play his natural attacking game.
Shi dictated the geometry of the court from the outset, controlling the net exchanges and forcing Ayush into the forecourt battle early. The variation in the Chinese player’s game blunted the Indian’s attack, as his smashes lacked precision and he succumbed to scoreboard pressure, leading to rushed shot-making.
Shi Yu Qi logged the opening points with two fine net dribbles to race to a 4-0 lead, as Ayush’s smashes lacked precision early on and he trailed 2-6. A long rally ended with the Chinese player going wide, offering the Indian some respite. A deceptive net shot helped Shi move to 7-4, and he extended the lead to 11-6 as Ayush struggled for control, committing a string of unforced errors.
Shi mixed it up effectively, producing a lovely drop shot and repeatedly drawing the Indian to the forecourt with cross returns like a metronome, forcing errors. Two down-the-line smashes gave Shi a massive cushion of game points, and he sealed the opening game when Ayush sprayed a return wide.
The Indian needed a complete reset to stay alive, and he responded with a thunderous straight smash before diving on both flanks to keep the shuttle in play and move to 3-1 in the second game. Shi continued to test Ayush with backhand deceptive net strokes and pushes to the deep, but the Indian managed to retrieve everything and even found his precision in time, with an on-the-line smash confirmed by Hawk-Eye and a well-constructed rally taking him to 7-2.
However, he couldn't hold on to the momentum as the Chinese clawed back to 7-7 after two long shots and a smash into the net from Ayush. A return that kissed the backline from Shi, followed by another error from Ayush at the net and a return into the net, handed the Chinese the advantage once again at the interval, as he led 11-8.
Shi’s ability to place the shuttle into empty spaces with his repertoire of strokes, often punctuated by a fierce smash, made life difficult for the Indian as he stretched the lead to 13-8. Soon, the Chinese was up 15-9 with another powerful smash.
A body return followed by a straight smash took him to 17-9, and another long shot from Ayush further dented his chances. A perfectly angled smash into the forehand corner brought Shi within two points of victory. He then unleashed a cross-court smash to earn 10 match points and sealed the contest with a return that cramped the Indian, targeting his hip.
