NEW DELHI: A UK court has issued an arrest warrant against fugitive diamond jeweller Nirav Modi , taking cognisance of the sanction granted by the UK home secretary on India’s request to extradite the jeweller.According to procedure, Modi will be formally arrested and is likely to be enlarged on bail. The London Police is likely to arrest him this week and produce him before a London Court, said sources privy to the development.The issuance of the arrest warrant by the Westminster Court sets the ball rolling for Modi’s extradition.ET had, on March 12, reported that in a bid to evade punitive action, Modi had shifted his base within UK thrice in a short span of time; he had moved from Central UK to Manchester before moving into a flat in London.The UK home office told the Indian authorities on March 8 that India’s request to extradite Modi had been certified.ET had also reported that the Indian agencies told the British authorities that Modi had travelled outside the UK on three occasions despite his passport having been revoked in February last year. This was despite repeated reminders sent to the British authorities. The Indian agencies are now awaiting Modi’s formal arrest.The Enforcement Directorate (ED) had last week filed a supplementary charge sheet against Modi and others involved in the Punjab National Bank (PNB) fraud last week before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.It detailed the method used in the $2-billion scam. It has also charged Modi’s wife Ami Modi with laundering millions of dollars through her bank account to purchase an apartment in London.Modi was spotted in London’s West End earlier this month by Britain’s The Telegraph newspaper, which reported that he’s running a new diamond business in the city.India is also pursuing extradition proceedings against Modi’s uncle and co-accused Mehul Choksi, currently in Antigua.The enforcement agency has attached several properties of Modi in India and abroad worth over ?1,720 crore.According to the Central Bureau of Investigation (CBI) and the ED, Modi, Choksi and companies owned by them obtained more than ?13,000 crore from PNB through fraudulent Letters of Undertaking and Letters of Credit between 2011 and 2017. It was alleged that Modi and others committed the offence in connivance with bank officials. In May last year, the CBI had filed two separate charge sheets against the duo and other accused, including the brass of PNB.