25-Year Chase Ends: CBI Takes Custody of Economic Offender Monika Kapoor in US

After a relentless pursuit spanning over two and a half decades, the Central Bureau of Investigation (CBI) has successfully taken custody of fugitive economic offender Monika Kapoor in the United States, bringing an end to her protracted evasion of justice. Kapoor, who had been on the run since 1999, is expected to be brought back to India to face trial for her alleged involvement in a multi-crore fraud case.

The extradition marks a significant victory for Indian investigative agencies, underscoring their unwavering commitment to bringing economic offenders to account, regardless of the international boundaries they may cross. This achievement follows extensive diplomatic and legal efforts, culminating in a US court clearing her extradition under the bilateral extradition treaty between India and the United States.

Monika Kapoor, proprietor of “Monika Overseas,” along with her two brothers, Rajan Khanna and Rajiv Khanna, stands accused of a meticulously planned scheme dating back to 1998. The allegations state that they forged a series of export documents, including shipping bills, invoices, and bank certificates, to fraudulently obtain six replenishment licenses. These licenses were intended for the duty-free import of raw materials, primarily gold, for jewellery manufacturing and export.

However, in a calculated move to defraud the Indian exchequer, Kapoor and her brothers allegedly sold these duty-free licenses to another entity, Deep Exports, Ahmedabad, at a premium. Deep Exports then utilized these illicitly obtained licenses to import duty-free gold, resulting in a substantial loss of approximately INR 1.44 crore (over USD 679,000) to the Indian government.

The CBI filed a charge sheet against Kapoor and her brothers on March 31, 2004, under various sections of the Indian Penal Code, including criminal conspiracy, cheating, forgery, and using forged documents as genuine. While her brothers, Rajan Khanna and Rajiv Khanna, were convicted by a Delhi court in 2017, Monika Kapoor failed to join the investigation or appear for trial. Consequently, she was declared a proclaimed offender by the court on February 13, 2006, and an open non-bailable arrest warrant was issued against her in April 2010. An Interpol Red Notice was also issued, signaling her status as an internationally wanted individual.

India initiated formal extradition proceedings with the US authorities in October 2010. The process proved to be a prolonged legal battle, with Kapoor reportedly exhausting numerous legal avenues in the US, including appeals to the Secretary of State, claiming that her return would violate the United Nations Convention Against Torture. However, after years of litigation, including challenges in the United States District Court for the Eastern District of New York and the United States Court of Appeals for the Second Circuit, her extradition was finally upheld in March 2025.

A CBI team recently traveled to the US to take custody of Monika Kapoor. She is expected to arrive in India soon and will be produced before the concerned court, where she will finally face trial for the economic offenses she is accused of. This successful extradition serves as a stern warning to other economic offenders that the long arm of the law will eventually catch up, no matter how far or long they flee. The CBI has reiterated its steadfast mission to combat economic crimes and its determination to utilize all legal mechanisms to ensure that fugitives face justice in India.