Nirav Modi arrested in London, to be produced in court today: TV Reports



Fugitive diamantaire Nirav Modi was on Wednesday arrested by the police two days after a London court issued an arrest warrant against him. He will be produced before the court today, according to TV reports.
Nirav Modi is the main accused in the $2-billion Punjab National Bank (PNB) scam case.
Earlier, CBI sources had told news agency PTI an extradition request has been sent to the United Kingdom through the External Affairs ministry.
Nirav Modi has fled after allegedly siphoning off about Rs 13,0000 crore from Punjab National Bank using Letters of Undertaking in collusion with his uncle Mehul Choski.
The 48-year old Nirav Modi was recently spotted in a tony neighbourhood of London wearing a 10,000 Pound Ostrich hide jacket by the London-based newspaper The Telegraph. On Tuesday also, several Indian channels spotted him in the area.
After fleeing from the country in the first week of January last year, he was seen in a Press Information Bureau group photograph of CEOs and top brass of Indian corporate sector with Prime Minister. Read More



Article Source -> Business Standard

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