PNB scam: London court issues arrest warrant against Nirav Modi
According to sources, Nirav Modi, will be arrested anytime in the next few days
According to sources, Nirav Modi, will be arrested anytime in the next few days
According to sources, Nirav Modi, will be arrested anytime in the next few days
According to sources, Nirav Modi, will be arrested anytime in the next few days
Fugitive diamantaire Nirav Modi, wanted in India over the billion dollar PNB scam, faces arrest in the United Kingdom with a warrant issued by the Westminster Court in London.
According to sources quoted by NDTV, Nirav Modi, will be arrested anytime in the next few days.
Modi's arrest will enable the start of a trial against him in the Westminster court. If the court decides, the business tycoon can be extradited to India. However, Nirav Modi can challenge such an order.
According to investigating agencies, Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB to the tune of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).
The ED had filed the first chargesheet in this case in May last year.
Nirav Modi, Choksi and other accused are facing charges under the PMLA Act and the Indian Penal Code in the fraud case which is being probed by multiple agencies, including the ED.
According to a UK media report last week, Nirav Modi is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost 17,000 pounds a month.