PNB scam fraudulent Business Man arrested in UK: Next hearing on 29th March

The London police arrested Nirav Modi at Holland Metro Station on Wednesday, March 20th. The government of England has arrested him following India's request and Red Corner notice issued for his extradition.
The Court of England issued a warrant to deport the fugitive businessman wanted in India. The CBI also had made several attempts to get hold of him after reports of his presence in the country was published in 'The Telegraph'

The PNB scam fugitive Nirav Modi is arrested in London and is being produced in the Westminster Magistrates Court today at 11:20 am (local time).He was picked up yesterday from a Metro Station Holborn.

“Nirav Deepak Modi, 48 was arrested on behalf of the Indian Authorities on Tuesday, 19th March, in Holborn, ” the Metropolitan Police said in a statement.

A week ago, UK issued a warrant against him following India’s request for his extradition. But it involves a long legal process. UK has recently approved the extradition of Kingfisher owner Vijay Mallya, who fled to UK in 2017 as banks tried to recover loans of Rs. 9000 cr. from him, the matter of his extradition is currently pending with the Home Office.

Meanwhile BJP Karnataka credited Nirav Modi's Arrest to PM modi on twitter.

However after several such tweets in support of Chowkidar Narendra Modi, many called it amusing.

Nirav Modi was sighted in London earlier this month looking slightly different with a moustache walking around in an expensive jacket. When questions were asked by the reporters of ‘The Telegraph’ he responded in ‘no comments’ and brushed them off.

He has started a diamond business in Soho and is believed to be living at a 33-storey Centre Point apartment complex in West End, the post theatre district in London. Nirav Modi skipped the country last year, a month before the PNB scam came to light. He along with his uncle and business partner Mehul Choksi are wanted in the PNB scam of 13000 cr.

Choksi has become the citizen of Antigua and Barbuda. Modi is also being sued in the State of California for US $4.2 million for defrauding Los Angeles entrepreneur, Paul Alfonso.

After the arrest of Nirav Modi in London, the Enforcement Directorate spoke about the possessions of Nirav Modi which were seized last year. These possessions include 173 paintings worth Rs.58 crores and 11 vehicles including a Rolls royce. ED has got permission from Prevention of Money Laundering Court in Mumbai to sell these possessions. A non-bailable warrant has been against his wife Ami Modi. Investigators seized property worth Rs. 962 crore spread across Hong Kong, Switzerland, UK, US, Singapore and UAE. A joint team of CBI and ED will fly to UK to assist the counsel who will be representing the agencies in Nirav Modi's case.A second hearing in Nirav Modi case will happen on 29th March,in Westminster Court, according to ANI reports.

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