Nirav Modi has been sent to HM Prison Wandsworth after his bail plea was rejected by the Westminster Magistrates' Court. Nirav Modiis to be kept in custody till March 29.
Diamantaire Nirav Modi has been arrested in London after a warrant was issued against him on March 18. He will be produced at the Westminster magistrates' court on March 20.
According to Reuters, the fugitive billionaire was arrested on Tuesday (March 19).
A London court had issued the arrest warrant against Modi, the main accused in the PNB scam case, in response to an Enforcement Directorate (ED) request for his extradition in a money laundering case.
A London court had issued the arrest warrant against Modi, the main accused in the PNB scam case, in response to an Enforcement Directorate (ED) request for his extradition in a money laundering case.
The ED and the Central Bureau of Investigation (CBI) are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed in early 2018.
Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost £17,000, The Telegraph of the UK had reported.
He has been chargesheeted by both the agencies and the ED has also attached his assets worth Rs 1,873.08 crore under the Prevention of Money Laundering Act (PMLA), and has also seized assets linked to him and his family worth Rs 489.75 crore.
Nirav Modi has been sent to HM Prison Wandsworth after his bail plea was rejected by the Westminster Magistrates' Court. Nirav Modiis to be kept in custody till March 29.
“We are thankful to the UK govt for their cooperation. We have a strong case. Custody till March 29 is unprecedented. Backchannels also working and the UK also understands that he is anoffender.
UK Court Judge has said that the bail was denied to the fugitive because of the high value of funds embezzled. The judge also expressed fear over the high access for Nirav Modi to escape.
Shiv Sena MP Arvind Sawant on Nirav Modi: I congratulate the government. Nirav Modi has been absconding for so long. The fraud was big; he cheated the banks. Appreciate the media also who found him on the streets in London. Following this, government can once again put pressure. It’s a big diplomatic win.
When there were so many chowkidaars how come these fraudsters leave this country?
On being asked if he is going to contest extradition, Nirav Modi told media persons, "No Comment".
