The fugitive jeweller Nirav Modi, wanted in the 14,000-crore scam involving state lender Punjab National Bank (PNB), has been arrested in London on India’s extradition request.
In London, Modi was residing on half a floor of the Centre Point Tower Block, in an apartment whose rent is reported to be around Rs 16 lakh.
After arrest, he will now be produced in a Westminster court. He is most likely to get a bail but like in the Vijay Mallya case, British authorities may limit his movement.
This is marked as a big diplomacy victory for Prime Minister Narendra Modi-led government.
A UK court had issued an arrest warrant against Nirav Modi last week, considering the sanction granted by the UK home secretary on India’s request to hand over the jeweller.
Earlier this month, Modi was spotted in London’s West End by Britain’s The Telegraph newspaper. The English daily reported that Modi is running a new diamond business in the city.
Further, India is seeking extradition proceedings against Modi’s uncle and co-accused Mehul Choksi, currently in Antigua.
