The CBI has arrested Subhash Shankar Parab, a close aide of diamond trader Nirav Modi, who had run away from Punjab National Bank by cheating. He was arrested from Cairo, the capital of Egypt and brought to Mumbai. Interpol had issued a red corner notice against Parab in 2018. Parab has been very close to Nirav Modi and has worked as Deputy General Manager in his company Firestar Diamonds. His role is also being told in the fraud done with PNB. Under this, efforts were being made to arrest him, which has now been successful.
CBI sources say that he was taken into custody as soon as he was brought from Mumbai. The CBI had registered a case against Nirav Modi on January 31, 2018. Apart from this, a case was also registered against his company Firestar Group, Brother Nishal, Uncle Mehul Choksi. Not only this, case was also filed against many other officers and employees of the company. These people, including Nirav Modi, are accused of cheating Punjab National Bank to the tune of Rs 13,780 crore. The CBI has told in its investigation that the companies of Nirav Modi and Mehul Choksi had cheated a total of Rs 20,600 crore.
The agency said in its investigation that during 2011 to 2017, a total loan of Rs 23,780 crore was issued to companies of Nirav Modi and Mehul Choksi. Arresting Nirav Modi’s close friend and bringing him to Mumbai is being considered a big success of the agencies. Although Nirav Modi and Mehul Choksi are still out of reach of Indian agencies, efforts are being made to extradite them to India. Apart from this, efforts are being made to bring liquor businessman Vijay Mallya to India.