(Image source from: Deccanherald.com)
London Court Issues An Arrest Warrant Against Nirav Modi:- Billionaire businessman and jeweler Nirav Modi flew from the country after he committed a series of financial frauds. He was absconding from the country and was recently spotted roaming like a free bird in London. A London court issued an arrest warrant against Nirav Modi after the Enforcement Directorate requested his extradition. ED submitted all the documents related to his money laundering case. Nirav Modi is accused of fraud worth Rs 13,000 crores to Punjab National Bank.
Westminster Magistrate Court issued a warrant against Nirav Modi and he is said to be arrested formally soon by the local cops. The legal proceedings will start after his arrest and then the discussion about his extradition will begin. The same process was followed for liquor baron Vijay Mallya and the case is currently in final stages. Indian Government is quite confident of bringing back Nirav Modi.
He is said to have been residing in a luxury apartment in Central London. Nirav Modi is said to have started a new diamond business in Soho. The Telegraph reported that Nirav Modi is paying 17,000 pounds as rent per month for his posh three-bedroom flat. A Red Corner notice was issued last year and the Interpol asked its 192 countries to arrest or detain Nirav Modi.