Nirav Modi, the fugitive jeweller wanted in the 13,000-crore Punjab National Bank scam, has been arrested in London and is being\u00a0 produced in the Westminster Magistrate’s Court, the UK police said.\u00a0 He was picked up yesterday from a metro station Holborn, central London, said officers in the Enforcement Directorate, which is probing the case against him.<\/p>\n
A week ago, UK issued a warrant against him following India’s request for his extradition. But, a decision on the extradition will not be taken without a long-drawn legal process, as is happening in the case of fugitive liquor baron Vijay Mallya, who fled to UK in 2017 as banks tried to recover loans to the tune of\u00a0Rs.<\/span>\u00a09000 crore from him.<\/p>\n UK has recently approved Vijay Mallya’s extradition, but the matter is now pending with its Home Office.<\/p>\n Nirav Modi is said to be living at a 33-storey Centre Point Apartment complex in West End, the post theatre district in London. Last month, he was sighted in London, walking around in an expensive ostrich-hide jacket. He had brushed off the questions of a reporter who spotted him, with a “no comments”. The Telegraph reporter later said that he has started a diamond business in Soho after acquiring necessary permits.<\/p>\n The 48-year-old billionaire had skipped the country last year, weeks before the detection of the\u00a0Rs.<\/span>\u00a013,000-crore Punjab National Bank scam. His relative Mehul Choksi, who was also wanted in the case, has been granted citizenship of Antigua and Barbuda.<\/p>\n The arrest is expected to come as a shot in the arm for the BJP, which is under Congress attack in the matter. The Congress has accused Prime Minister Narendra Modi of aiding industrialists like Nirav Modi and Mehul\u00a0 Choksi.<\/p>\n Minutes after the arrest, Union Minister Hardeep Puri tweeted:<\/p>\n You can run, but cannot hide from the country’s #<\/span>Chowkidar<\/span>. As wheels of justice grind, after Vijay Mallya, fugitive Nirav Modi has been arrested in London. Clear sign that this is not the India which will allow economic offenders to loot the country & evade the long arm of law.<\/p>\n<\/div>\n<\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n\n