India's Central Bureau of Investigation (CBI) got Subhash Shankar Parab deported from Egypt to India on Tuesday (April 12) after a long diplomatic and legal process.&nbsp;

Parab is a key accused in connection with the multi-billion dollar Punjab National Bank (PNB) scam in 2018, involving diamantaire Nirav Modi.&nbsp;

Officials have stated that a CBI team had gone to Cairo to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in the Egyptian capital city.&nbsp;

Officials added that Parab was the Deputy General Manager (Finance) in Firestar Diamond. He landed in Mumbai early after "deportation".&nbsp;

According to the officials, Parab was absconding ever since the case involving diamantaire Nirav Modi&nbsp;and his uncle Mehul Choksi came to light.&nbsp;

India had issued an Interpol Red Notice against Parab to track him and bring him back.&nbsp;

India-based news agencies reported that authorities received information that Parab was kept in illegal confinement by Nirav Modi's men.&nbsp;

As noted by Interpol, charges on Nirav Modi are punishments of criminal conspiracy, criminal breach of trust by public servant, or by banker merchant or agent, cheating and dishonesttly inducing delivery of property, prevention of corruption act.&nbsp;

Officials stated that after a long diplomatic and legal process, the CBI managed to secure "administrative extradition" or deportation of Parab.&nbsp;

Officials believe Parab could spill the beans on the country's biggest banking scam allegedly perpetrated by Nirav Modi and Choksi with a combined loss of Rs13,000 crore.&nbsp;

Earlier, the investigation revealed that the duo is wanted for allegedly siphoning off public money from the state-run PNB, using the Letters of Undertaking.&nbsp;

The investigations revealed that messages for fraudulent LoUs were sent to overseas banks by misusing Society for Worldwide Interbank Financial Telecommunications (SWIFT), an international messaging system for banking, and without making their subsequent entries in PNB's internal software 'Finacle', thus bypassing any scrutiny of such funds in the bank.&nbsp;

An LoU is a guarantee given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant.&nbsp;

In case of default, the bank issuing the LoU has to pay the liability to the credit-giving bank along with accruing interest.&nbsp;

The companies of Nirav Modi and Choksi took loans from banks abroad on the basis of these LoUs but did not repay them, thus transferring the liability to PNB.&nbsp;

Nirav Modi is in a London prison after repeated denial of bail and is contesting extradition to India.&nbsp;

Choksi had taken the citizenship of Antigua and Barbuda in 2017 using the Citizenship by Investment programme even before fleeing India in the first week of January 2018.&nbsp;

ALSO WATCH |&nbsp;India's import of Russian oil remains point of contention between New Delhi and Washington

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(With inputs from agencies)&nbsp;

India's Central Bureau of Investigation (CBI) got Subhash Shankar Parab deported from Egypt to India on Tuesday (April 12) after a long diplomatic and legal process.

India's Central Bureau of Investigation (CBI) got Subhash Shankar Parab deported from Egypt to India on Tuesday (April 12) after a long diplomatic and legal process. Parab is a key accused in connection with the multi-billion dollar Punjab National Bank (PNB) scam in 2018, involving diamantaire Nirav Modi. Officials have stated that a CBI team had gone to Cairo to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in the Egyptian capital city. Officials added that Parab was the Deputy General Manager (Finance) in Firestar Diamond. He landed in Mumbai early after "deportation". According to the officials, Parab was absconding ever since the case involving diamantaire Nirav Modi and his uncle Mehul Choksi came to light. India had issued an Interpol Red Notice against Parab to track him and bring him back. India-based news agencies reported that authorities received information that Parab was kept in illegal confinement by Nirav Modi's men. As noted by Interpol, charges on Nirav Modi are punishments of criminal conspiracy, criminal breach of trust by public servant, or by banker merchant or agent, cheating and dishonesttly inducing delivery of property, prevention of corruption act. Officials stated that after a long diplomatic and legal process, the CBI managed to secure "administrative extradition" or deportation of Parab. Officials believe Parab could spill the beans on the country's biggest banking scam allegedly perpetrated by Nirav Modi and Choksi with a combined loss of Rs13,000 crore. Earlier, the investigation revealed that the duo is wanted for allegedly siphoning off public money from the state-run PNB, using the Letters of Undertaking. The investigations revealed that messages for fraudulent LoUs were sent to overseas banks by misusing Society for Worldwide Interbank Financial Telecommunications (SWIFT), an international messaging system for banking, and without making their subsequent entries in PNB's internal software 'Finacle', thus bypassing any scrutiny of such funds in the bank. An LoU is a guarantee given by an issuing bank to Indian banks having branches abroad to grant a short-term credit to the applicant. In case of default, the bank issuing the LoU has to pay the liability to the credit-giving bank along with accruing interest. The companies of Nirav Modi and Choksi took loans from banks abroad on the basis of these LoUs but did not repay them, thus transferring the liability to PNB. Nirav Modi is in a London prison after repeated denial of bail and is contesting extradition to India. Choksi had taken the citizenship of Antigua and Barbuda in 2017 using the Citizenship by Investment programme even before fleeing India in the first week of January 2018. ALSO WATCH | India's import of Russian oil remains point of contention between New Delhi and Washington × (With inputs from agencies)

Who is Subhash Shankar Parab? Nirav Modi's close aide deported to India from Egypt

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Who is Subhash Shankar Parab? Nirav Modi's close aide deported to India from Egypt