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Nirav Modi Likely To Be Arrested Soon As London Court Issues Provisional Warrant

Live Law News Network
19 March 2019 4:21 AM GMT
Nirav Modi Likely To Be Arrested Soon As London Court Issues Provisional Warrant
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Westminster Court, London has issued a provisional arrest warrant against fugitive dimanitaire Nirav Modi and speculations are now rife that the diamond trader who is allegedly responsible for the Rs.13,000 crore Punjab National Bank scam will be arrested soon.

According to India Today, Nirav Modi might be arrested soon by the London Police and later will be produced before the Westminster Court in order for the trial to begin. It was also reported that the Enforcement Directorate agency received an email from the UK Home Office stating that the extradition request forwarded by India last year has been certified by Home Secretary and the same has been sent to the Westminster Magistrate Court.

Earlier, ED had registered a case against Modi and others under the Provisions of Money Laundering Act after CBI registered an FIR against him under Sections 120-B r/w 420 of IPC read with Section 13(2) read with 13(1)(d) of Prevention of Corruption Act, 1988.

According to ED and the CBI, Nirav Modi and his uncle Mehul Choksi, in connivance with officials of PNB managed to get fraudulent Letters of Understanding issued without following the due process causing a massive loss to the bank.

UK daily The Telegraph had recently tracked Modi in the streets of London and reported that Modi was still living in luxury and that he was involved in a new diamond business. Modi's assets worth Rs 1,873.08 crore have been attached by the ED under PMLA, and has also seized assets owned by him and his family worth Rs.489.75 crore.

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