Nirav Modi arrested by the Scotland Yard triggered the first stage of the legal process for extradition. Javid’s certification was sent to the Westminster Magistrates’ Court last week.
London, Wednesday, March 20, 2019 —
Fugitive Indian diamantaire Nirav Modi was arrested in London on Tuesday on India’s extradition request. He will be produced in a London court later today.
Yesterday, a top court in the UK issued a warrant to arrest Nirav Modi, days after British home secretary Sajid Javid certified India’s request to extradite him to face charges of financial irregularities in the Rs 13,500-crore Punjab National Bank (PNB) fraud case.
Nirav Modi’s arrest by the Scotland Yard triggered the first stage of the legal process for extradition. Javid’s certification was sent to the Westminster Magistrates’ Court last week.
Issuing of the arrest warrant implies that the court is satisfied that there are reasonable grounds for believing that the conduct described in the request is an extradition offence, which includes the requirement for dual criminality.
Nirav Modi Is Wanted In A 13000 Cr PNB Scam
Indian Fugitive diamantaire Nirav Modi, who is wanted in the Rs 13,000-crore Punjab National Bank fraud in India, is living in a luxurious apartment situated in London’s West End and running a diamond business, according to a report published in The Telegraph.
A video released by a UK-based newspaper on Saturday showed Nirav Modi, apparently sporting a jacket made from “Ostrich hide” which costs “at least £10,000” (over Rs 9 lakh), repeatedly answering “no comment” to every question posed by the reporter.
Extradition Request By India
India made a request to extradite the 48-year-old from Britain last August but the matter remains in the hands of the home secretary. In February 2018, Nirav Modi was accused by Punjab National bank of swindling it of Rs 6,498.20 crore through his companies, using fraudulent Letters of Undertakings (LoUs). But by then he had already left the country. His passport was revoked the same month as a result.
In its Red Corner Notice issued against a fugitive, the Interpol asks its 192 member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin. The notice lists a string of charges that include “criminal conspiracy, breach of trust, cheating and dishonestly inducing delivery of property, corruption, and money laundering.”