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Nirav Modi, the diamond merchant wanted in India on charges of fraud and money laundering in the estimated USD 2-billion Punjab National Bank (PNB) scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts. While this may be construed as a huge win for the Indian government, but India's record in catching economic fugitive offenders over the years has not been that great. Watch the video.