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.
Update:
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.
Top government sources have told CNN News18:
“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.
BREAKING | UK Court rejects Nirav Modi's bail plea. He will remain in police custody until next hearing on March 29.
BREAKING | Nirav Modi offers 500,000 pounds as a security for his bail.
BREAKING | Nirav Modi's bail application is currently being heard.
BREAKING | The next hearing in connection to Nirav Modi will take place on March 29.
BREAKING | Nirav Modi has refused consent to extradition.
BREAKING | Hearing against Nirav Modi begins at the Westminster Magistrate Court in London.
BJP ally Shiv Sena congratulates govt on Nirav Modi's arrest, calls it 'big diplomatic win'
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.
Fugitive diamantaire Nirav Modi arrested in London after court issues warrant
# Nirav Modi, the main accused in the USD 2 billion PNB scam case, wasarrested in London, Scotland Yard said.
#The arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.
#This is what the warrant reads:
"Nirav Deepak Modi, (Date of Birth 24.02.71), was arrested on behalf of the Indian Authorities on Tuesday, 19 March, in Holborn," the Metropolitan Police said in a statement.
"He will appear in custody at Westminster Magistrates' Court on Wednesday, 20 March," the statement added.
The location of the arrest indicates that Nirav Modi, wanted in India in connection with the Rs 13,500 crore Punjab National Bank scam case, was arrested from where he is believed to have been living in a plush apartment in Centre Point in the West End.
It would seem that his arrest is on an extradition warrant, details of which would become clear when he appears before Westminster Magistrates' Court in London.
The 48-year-old's arrest would lead to him being produced before a District Judge at Westminster Magistrates' Court in London to be formally charged, following which he is expected to seek bail.
With inputs from PTI
On Nirav Modi’s arrest, Congress leader Renuka Chowdhury told CNN News18:
When there were so many chowkidaars how come these fraudsters leave this country?
Update:
On being asked if he is going to contest extradition, Nirav Modi told media persons, "No Comment".
Congress veteran leader Ghulam Nabi Azad:
When he got the loan is not the question...The question is how did he leave India...He left when the BJP is in power...He is now being brought back because of elections...After elections, he will be allowed to go back.
Enforcement Directorate gets permission from PMLA court in Mumbai to sell 173 paintings and auction 11 cars of Nirav Modi
ED Sources told news agency ANI: Enforcement Directorate gets permission from PMLA [Prevention of Money Laundering Act] Court in Mumbai to sell 173 paintings of Nirav Modi. 11 cars to also be auctioned. NBW has been issued by PMLA court against Ami Modi, wife of Nirav Modi.
UK Police:
Fugitive diamond merchant Nirav Modi was arrested from London's Holborn metro station.
BREAKING |
Non-Bailable Warrant issued by PMLA Court against Nirav Modi's wife Ami Modi.
Modi, 48, is currently living in a three-bedroom flat occupying halfa 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 the ED and the CBI.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.
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.
Diamantaire Nirav Modiwas 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.
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.
