Nirav Modi arrested in London

Fugitive diamond merchant Nirav Modi is wanted in India for an alleged loan default case in the tune of Rs 13,000 crore

In a major development, diamond merchant Nirav Modi has been arrested in London according to TV reports. A London court on Monday had issued an arrest warrant against Nirav Modi, who is wanted in India for an alleged loan default case, according to the sources in the Enforcement Directorate.

The arrest warrant was issued by the Westminster Court, the sources added. India had already requested the extradition of Nirav Modi from the United Kingdom. The development comes days after the fugitive was tracked down to a 33-storey Centre Point Apartment complex in London's Theatre District.

Nirav Modi, one of the prime accused in the PNB scam in India. Modi is the subject of an extradition request by India, along with an Interpol Red Corner Notice being issued for the PNB scam accused. Modi is the prime accused in the Rs 13,000 crore PNB fraud, along with his uncle Mehul Choksi.

Choksi was granted citizenship of Antigua and Barbuda on January 15, 2018, while Modi is in London. Both Modi and Choksi left India in January last year before the PNB scam came out in the public. The duo has not returned to India despite repeated summons from probe agencies and courts.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!