Nirav Modi, a jewellery businessman who left India after having a $2 billion fraud case in Punjab National Bank (PNB), seeks political asylum in UK. International news agency Reuters has reported this latest development citing Indian and British officials.
Meanwhile the British Home department has informed that they won't exchange data in private cases.
Punjab National Bank said earlier in 2018 that two jewellery groups headed by Nirav Modi and his uncle Mehul Choksi had defrauded it of about $2.2 billion by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff at a Mumbai branch over several years.
