Fugitive billionaire Nirav Modi has been traced in the UK, authorities have confirmed. While his location has not been made public, it is learnt that the CBI has moved for extradition.
The CBI has also submitted copies of Interpol's Red Corner Notice against Nirav Modi demanding his immediate detention in the UK, media reports said. Futher details are awaited.
Diamantaire Nirav Modi is the prime accused in the Rs 13,000-crore PNB fraud case. Modi and his uncle Mehul Choksi are accused of defrauding PNB using fake financial instruments.
The duo left India two weeks before the CBI filed a case in January. While Choksi has been traced to Antigua where he has been granted a citizenship, Nirav Modi's whereabouts were unknown.