A red corner notice has already been issued against him by Interpol. (Photo: Reuters)

Investigating agencies probing into Nirav Modi's irregularities have now decided to also extradite his brother Neeshal Modi and close aide Subhash Parab. Sources privy to the development say the extradition process has been initiated.

Neeshal Modi is a citizen of Belgium while Subhash Parab is an Indian.

Investigating agencies have reportedly learnt that Neeshal is currently in Belgium and Subhash is in Egypt.

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A red corner notice has already been issued against the duo by Interpol.

The Central Bureau of Investigation (CBI) has charged them with criminal conspiracy, criminal breach of trust, cheating, dishonesty and the Prevention of Corruption Act.

Subhas Parab was the manager of Nirav Modi's Firestar International. CBI says he was the one who dealt with officials of the Punjab National Bank and issued fraudulent Letters of Undertaking on behalf of Nirav Modi.

"Parab was not only aware of the wrongdoings, but he was also part of it. He was directly dealing with the bank officials and following instructions of Nirav Modi," a CBI officer said.

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The officer said Neeshal Modi is also involved in the multi-crore fraud. Officials say though Neeshal is a Belgian citizen, he can still be extradited because the crime was committed on Indian soil.

A special Fugitive Economic Offenders Act court in Mumbai has summoned Neeshal and asked him to appear before it on September 25 at 11 am. If he fails to do so, the court said his assets will be confiscated.

Meanwhile, India has submitted all documents required for Nirav Modi's extradition to authorities in the United Kingdom. "The authorities have told us that they are looking into it. Extradition and provisional arrest are complicated process and it may take some time," a senior official said.

Nirav Modi is accused of defrauding Punjab National Bank of the Rs 13,000 crore.

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