New Delhi: After the US, India is all set to approach Britain to seek extradition of Virender, one of the four Rastogi brothers, who is serving sentence there for defrauding banks to the tune of several million dollars.

CBI sources said the agency was approaching the authorities in Britain through the External Affairs Ministry requesting for suspension of Virender's sentence and subsequent extradition to India to face trial.

Virender was recently sentenced by a Southwark Crown Court in London for conspiracy to defraud bank to the tune of several million dollars. The accused conned banks into funding non-existent metal trading deals using 324 fake companies that turned out to be housed in small flats and shops.

He had figured in the Sunday Times rich list before he was punished to undergo a nine years and six months sentence.

India was, meanwhile, awaiting a word from the US to get another Rastogi brother, Narinder extradited. He along with his brothers including Virender has been accused by the CBI of defrauding the exchequer to the tune of Rs 43 crore while exporting scrap to CIS countries.

The FBI had arrested Narinder and three others in May 2002 for defrauding banks around the world of an estimated 600 million dollars by obtaining finance for sham transactions and then pledging them as collaterals for loans.

According to the CBI, Rastogi brothers, as directors of five firms exported bicycle parts during 1995-96 to Russia and Hong Kong by heavily over-invoicing the value of goods with the objective of dishonestly claiming excess duty drawback from customs.
Source : PTI