The Central Bureau of Investigation (CBI) has successfully taken custody of Monika Kapoor, an economic offender involved in a significant import-export fraud case. Kapoor, who fled to the United States in 1999, is accused of orchestrating a scheme that defrauded the Indian government of substantial sums. Her extradition was facilitated by the United States District Court for the Eastern District of New York under the bilateral extradition treaty between India and the USA. Kapoor’s return to India marks a significant development in a case that has spanned over two decades.

Monika Kapoor, along with her brothers Rajan and Rajiv Khanna, allegedly forged documents related to their jewellery business to obtain licenses from the Indian government. These licenses allowed them to import raw materials duty-free, resulting in a loss of more than USD 679,000 to the Indian exchequer. The fraudulent activities date back to 1998 when they prepared fake shipping bills and invoices to secure six ‘replenishment licenses.’ These licenses were then sold at a premium to Deep Exports, an Ahmedabad-based firm, which used them to import duty-free gold worth approximately Rs 2.36 crore. This irregularity led to a government loss of about Rs 1.44 crore.

The CBI’s investigation culminated in a charge sheet filed against Kapoor and her brothers in 2004. However, Kapoor evaded justice by fleeing abroad and was declared a proclaimed offender in 2006. A red corner notice was issued against her in 2010, coinciding with India’s formal request for her extradition from the US. While Rajan and Rajiv Khanna were convicted by a local court in Delhi in 2017, Kapoor’s absence had stalled proceedings against her until now.

Kapoor’s extradition and subsequent return to India underscore the CBI’s persistent efforts to bring economic offenders to justice and highlight the importance of international cooperation in tackling cross-border financial crimes.