Extradition of Indian Bank scam accused sought

NEW DELHI, SEPT. 9. The Central Bureau of Investigation (CBI) has requested France to extradite Mr. M. Varadarajalu, chairman, MVR group, one of the main accused in the Rs. 1300-crore Indian Bank scam, who was arrested by French authorities near Paris.

The CBI sources said the agency sent an extradition request to the French authorities where his bail application was recently rejected by a local court.

Mr. Varadarajalu alias `MVR', a major defaulter with an exposure of around Rs. 468 crores, had been evading arrest for the last four years and the CBI had secured a ``red corner'' notice against him in 1998 besides cancelling his passport.

He was arrested in the suburbs of Paris and a French magistrate sent him to detention pending a request from Indian authorities for his extradition. Mr. Varadarajalu fled the country immediately after the scam came to light. The CBI has registered 13 cases against him which involved his 15 Indian companies and three companies of Singapore.

- PTI

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