A court in the UK has issued an arrest warrant issued against Nirav Modi, who is wanted in India for a bank fraud case. According to reports, Westminster Magistrate Court in London has issued the warrant against the fugitive businessman.
— Republic (@republic) March 18, 2019
Recently media had tracked Nirav Modi in London, who reportedly lives in a luxury 8 million pound apartment in west London, and currently deals in diamond business. The Indian government was aware of his presence in the UK, and ED had already requested the UK government for extradition in July 2018. The UK government had found the Nirav Modi case fit for extradition, and the request was sent by UK Central Authority of Home Office to the Westminster Magistrate Court for further proceedings.
Request for Extradition of Nirav Modi to India was sent in July 2018 to UK. The UK Central Authority of Home Office has confirmed that the Extradition Request has been sent to the Westminster Magistrate Court for the District Judge for further proceedings.
— ED (@dir_ed) March 9, 2019
The Westminster Court has issued the arrest warrant against Nirav Modi as part of processing this extradition request. He has been ordered to be produced before the court on 25th March. After the issue of the warrant, Nirav Modi is expected to be arrested by London police soon. The warrant is provisional, and he is entitled to obtain bail.
Nirav Modi, his wife Ami Modi, brother Nishal Modi, and uncle Mehul Choksi are accused defrauding Punjab National Bank to the tune of Rs 14,356 crore by obtaining Letter of Undertaking without furnishing any guarantee. Mehul Choksi is living in Antigua, having taken citizenship of the country.