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CBI seeks extradition of Narinder Rastogi from US

The Central Bureau of Investigation has sent a request to the United States for extradition of Narinder Rastogi for his alleged fraudulent duty drawbacks to the tune of Rs 171 billion.

Rastogi, who was arrested by the Federal Bureau of Investigation in May this year in another case there, has been cited as a wanted criminal by the CBI.

The CBI, after arrests of Rastogi and three others for defrauding banks worldwide of an estimated $600 million by obtaining financing for sham transactions and then pledging them as collateral for loans, sent the request to the United States giving details about the frauds committed by him in India before fleeing to the US.

The FBI had sought details about Narinder's modus operandi in the cases he was involved in.

Highly placed CBI sources said that the FBI had been forwarded all details of the eight cases in which he had been involved to facilitate his extradition request.

Narinder Rastogi, along with his three brothers, was facing charges of criminal conspiracy and fraud for cheating the government of Rs 430 million in eight different cases.

Rastogi's involvement has been alleged by the CBI in three cases where Rs 430 million, Rs 533 million and Rs 750 million were sought as duty drawback.

In the first case, which has been pending trial since 1995, the CBI had alleged that Rastogi brothers in connivance with some customs officials and other firms had cheated the government by obtaining about 40 advance import licences for the import of zinc, German silver scrap and lead worth Rs 533 million on forged documents.

The second case alleges that the Rastogi brothers had failed to fulfil the export obligation to the tune of Rs 757.4 million against the imports which were further substantiated during the probe.

The CBI has been looking for Narinder Rastogi and his brothers and influential businessmen Virender Rastogi and Ravinder Rastogi in connection with the fraudulent duty drawback from the export of scrap material.

The brothers have been alleged to have sought duty drawback on their export consignments to Hong Kong and some CIS countries.

The CBI had alleged that the brothers used to export scrap material but claimed duty drawback on export of cycle spare parts.

London-based Virender, whose passport had been revoked for his alleged involvement in duty drawback scams, also carried a reward of Rs 20,000 announced by the CBI.

Ravinder, reported to be in Dubai, also carries a similar reward. The fourth Rastogi brother, Subhash, was arrested by the CBI on September 8 last year and is currently out on bail.

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