Daijiworld Media Network – New Delhi

New Delhi, Jul 9: In a major breakthrough after two decades, the Central Bureau of Investigation (CBI) on Wednesday took custody of Monika Kapoor, a fugitive accused in a high-profile import-export fraud case involving duty-free gold and fake export documents.

Kapoor, who fled to the United States in 1999, is expected to land in India on Wednesday night after the US District Court for the Eastern District of New York cleared her extradition under the Indo-US treaty. This marks a rare successful extradition in a financial fraud case.

According to officials, Kapoor—owner of the firm "Monika Overseas"—allegedly orchestrated a scheme in 1998 along with her brothers Rajan and Rajiv Khanna to forge documents and obtain six replenishment licences from the Indian government. These licences enabled duty-free import of gold worth Rs 2.36 cr.

The trio allegedly created fake shipping bills, invoices, and export documents to mislead banks and government agencies. They later sold the licences to Deep Exports, an Ahmedabad-based firm, which used them to import duty-free gold, causing a loss of Rs 1.44 cr to the Indian exchequer.

A CBI charge sheet was filed in 2004, and Kapoor was declared a proclaimed offender in 2006 after evading investigation. A red corner notice was issued in 2010, the same year India formally sought her extradition.

While her brothers were convicted by a Delhi court in 2017, Kapoor had remained at large in the US. With her arrival, the CBI is now expected to resume proceedings against her.

The case is being seen as a landmark in India’s efforts to bring back economic offenders who evade justice by seeking shelter abroad.