Nirav Modi Arrested In London
Fugitive Indian Nirav Modi was arrested in London on 19th March 2019 at London’s Holborn area by the Scotland Yard on India’s extradition request. The 48-year-old businessman was later produced in a Westminster court on 20th March 2019 where he will be formally charged.
On 18th March 2019, a top court in the UK issued an arrest warrant against Nirav Modi in the charge of financial irregularities case of Rs. 13,500 crore Punjab National Bank (PNB) fraud case. He was arrested by the Scotland Yard as the first stage of the legal process for extradition.
Issuing of the arrest warrant implies that the court is pleased by the fact that Nirav Modi is guilty in an extradition offense which also includes the requirement for dual criminality.
In the case of another businessman, Vijay Mallya whose case is now in the appeals court was certified by the home secretary on 21st February 2017. When his hearings began, Vijay Mallya was arrested and bailed two months later on 18th April 2017.
The Presence of Nirav Modi, in Lonon, UK was confirmed by British authorities in mid-2018 through a video which was released by The Daily Telegraph. The video featured Nirav who was walking on the streets of London and responding to queries by the reporters, saying “No Comments”. He was later tracked down to a three-bedroom luxury flat which occupies half of a floor in an upscale tower block where a price of rent is sky-rocketing. According to a newspaper reading, the apartment rented 17,000 pounds a month.
Nirav Modi is known as a billionaire diamond tycoon who is now India’s most wanted. The reports also quoted that, he has been given a national insurance number which states that he is legal to work in the UK.