Nirav Modi fled India in the first week of January days before the PNB detected the fraud.
Fugitive billionaire Nirav Modi, wanted in India for bank fraud, can be hunted and arrested in any country, with the Interpol putting out a red corner notice today.
The notice is put out to ask countries to help with tracking down and arresting a wanted person, so that they can be extradited. It is the closest instrument to an international arrest warrant, according to the Interpol.
Nirav Modi, a celebrity jeweler with star clients in India and abroad, is wanted for a Rs. 13,000-crore bank fraud in India. He is accused of extracting loans abroad based on fake guarantees in the name of the Punjab National Bank (PNB), India's second largest government bank.
India had written to several European countries for help in tracing the jeweler, who allegedly travelled to several countries despite his passport being cancelled by the government.
The Foreign Ministry had also sent messages to all its missions abroad to get in touch with local governments to deny entry to Nirav Modi and inform India if he was there.
Nirav Modi and his uncle Mehul Choksi are among the main accused in the PNB loan fraud. They have been charged in nearly half-a-dozen cases.
They managed to leave the country in the first week of January, days before the PNB was able to detect the fraud.