Acting on the Punjab National Bank (PNB) fraud case, the Indian authorities will ask Egypt to expedite its request for the extradition of Subhash Parab an accused in PNB scam.
According to Mumbai Mirror, Subhash Parab’s presence in the African country has been confirmed. Sources familiar with the investigations told the leading daily that Parab, who is suspected of having worked as a link between the bank and key fugitive accused, Nirav Modi, stays in a suburb of Cairo, allegedly under illegal confinement of two Egyptian nationals, Tamir and Mohammed.
“On May 8, when the London court denied Modi bail the third time since his arrest, his lawyers had produced a statement by Parab, whose content sought to deny CBI’s and ED’s allegations that he was illegally confined in Egypt by Modi’s associates, insisting that he was there on his own accord. We will make fresh efforts to get Parab extradited,” a source told the Mumbai Mirror.
The Indian authorities had requested Egypt in 2018 to hand over Parab after the Interpol issued a Red Corner Notice. But now the Indian agencies have alleged that Parab, an executive of the former’s Firestar India firm, is under “illegal confinement” of Modi and feared for his “safety”. It has been alleged that Parab, along with 11 other directors of Modi-controlled shell firms that were recipients of letters of undertaking (LoU) funds obtained fraudulently from the bank, had been taken to Cairo from Dubai in a bid to stop/delay them from joining the investigation, reported the Mumbai Mirror.
