In a huge development, fugitive diamond merchant Nirav Modi was arrested on Wednesday from London. An arrest warrant was issued against him two days ago on March 18. He will soon be produced at the Westminster magistrates court.
Nirav Modi has been wanted for duping the Punjab National Bank of over Rs 13,500 crore. A London court had earlier issued an arrest warrant against him after the Enforcement Directorate had asked for him to be extradited in the money laundering case. He was arrested on Tuesday and has been in custody overnight.
The development comes days after UK's The Telegraph newspaper claimed that Modi was spotted in London, leading to the Congress slamming the Bharatiya Janata Party (BJP) government for its "failure" to bring the fugitive diamantaire to justice.
According to The Telegraph’s report, Nirav Modi is living openly in a three-bedroom flat, occupying half the floor of the landmark Centre Point tower block.
The report also claimed Nirav Modi was involved in a new diamond business, run from an office in Soho, just a few hundred yards from his apartment. The new business was incorporated in May 2018, said the report.
The Interpol had issued a red corner notice against Nirav Modi in July 2018 on the request of the ED and the Central Bureau of Investigation (CBI).
An extradition request against him has been pending before the UK authorities since last September. The ED on February 26 attached Rs 147 crore properties of Nirav Modi and his associate companies, in connection with the PNB fraud case.
Nirav Modi’s arrest comes almost a year and a half after he had fled India.