NEW DELHI: Monika Kapoor, proprietor of Monika Overseas and a key accused in a ₹2.36 crore gold import-export fraud, was extradited from the United States on Wednesday after evading Indian authorities for 25 years. The Central Bureau of Investigation (CBI) confirmed her return aboard American Airlines flight AA 292 and custody transfer on arrival. Indian law enforcement termed her return a major breakthrough in prosecuting long-absconding financial fugitives.
In 1998, Kapoor, along with her brothers Rajan and Rajeev Khanna, allegedly forged shipping bills, export invoices, and bank export-realisation certificates to secure six replenishment licences for duty-free gold imports worth ₹2.36 crore. These licences, intended to support jewellery exports, were allegedly sold at a premium to Ahmedabad-based Deep Exports, allowing duty avoidance that resulted in ₹1.44 crore in losses to the Indian exchequer. The brothers were convicted in 2017, but Kapoor escaped to the US in 1999 before trial.
Complex Extradition Ends Years in US Courts
The case opened in 2002, with a formal chargesheet lodged in 2004. Kapoor was wanted since 2006, eventually becoming a proclaimed offender in 2006. A non-bailable warrant and Interpol Red Corner Notice followed in 2010. The government sought her extradition in October 2010.
Kapoor defended herself in US courts, citing potential torture risks and the UN Convention Against Torture. However, in March 2025, the U.S. Court of Appeals (Second Circuit) dismissed her claims, upheld extradition, and ordered her surrender by the Secretary of State under existing treaties.
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CBI officials hailed the extradition as a landmark moment, underscoring that financial offenders cannot indefinitely avoid prosecution by fleeing abroad. Authorities have already returned over 100 such fugitives via Interpol and bilateral treaties.
Trial and Impact Ahead
Upon arrival, Kapoor will be presented before a Delhi court to face charges of criminal conspiracy, cheating, and forgery. The agency reaffirmed its dedication to pursuing fugitives, signalling rigour in securing justice regardless of international hurdles.
However, the protracted legal journey highlights the challenges facing efforts to curb economic crime. Experts argue India must continue strengthening extradition treaties and enacting timely trials to deter others from using foreign residency as a shield against punishment.
About the Author – Sahhil Taware is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.