A London court has issued an arrest warrant against jewellery designer Nirav Modi, the main accused in the USD 2 billion PNB scam case, in response to an ED request for his extradition in a money laundering case. A provisional arrest warrant is a part of the procedure that has to be followed before initiating a formal extradition process. Reports indicates that he could be produced in court on March 25.
According to ED sources, they said the investigative agency has been informed about the issuance of the warrant by the Westminster Magistrate Court against Modi and he is expected to be put under formal arrest by the local police soon. Modi will be subsequently brought before the court to secure bail and the legal proceedings for his extradition will begin thereafter, they said.
The Enforcement Directorate (ED), early this month, had said that United Kingdom’s home secretary Sajid Javid had referred India’s request for extraditing Modi to a court for initiating legal proceedings against the diamantaire.
Modi, 48, 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, The Telegraph newspaper of the UK had reported.
Modi has been chargesheeted by both the agencies and the ED has also attached his assets worth Rs 1,873.08 crore under the Prevention of Money Laundering Act (PMLA), and has also seized assets linked to him and his family worth Rs 489.75 crore.