In what is pegged as a huge diplomatic win for the Modi government, fugitive businessman and prime accused in the Rs 14,000 crore PNB scam, Nirav Modi has been arrested in London, 17 months after he fled India, reports Republic TV. On 18th March, two days back, a London court had issued an arrest warrant against him based on India’s request for extradition.

After the arrest, Nirav Modi was presented at the Westminster Magistrate Court for hearing on the matter. The court rejected the bail plea of Nirav Modi and sent him to custody till 29th March. The court also fixed 29th March as the next date of hearing in the case.

Recently media had tracked Nirav Modi in London, who reportedly lives in a luxury 8 million pound apartment in west London, and currently deals in the diamond business. The Indian government was aware of his presence in the UK, and ED had already requested the UK government for extradition in July 2018. The UK government had found the Nirav Modi case fit for extradition, and the request was sent by UK Central Authority of Home Office to the Westminster Magistrate Court for further proceedings.

The Westminster Court has issued the arrest warrant against Nirav Modi as part of processing this extradition request. He has been ordered to be produced before the court on 25th March. Since the warrant is provisional, Nirav Modi is expected to get bail soon.

- Advertisement -

Nirav Modi, his wife Ami Modi, brother Nishal Modi, and uncle Mehul Choksi are accused defrauding Punjab National Bank to the tune of Rs 14,356 crore by obtaining Letter of Undertaking without furnishing any guarantee. Mehul Choksi is living in Antigua, having taken citizenship of the country.