Punjab National Bank, according to Reuters, claimed past year that two jewelry groups operated by Modi and his uncle, Mehul Choksi, defrauded it by working with rogue staff. Nirav Modi's Seaside Bungalow "Roopanya" in Alibaug Demolished Using Controlled Explosives, Watch Video.
In the prison in south London, Modi's inmates will include the likes of alleged Dawood henchman Pakistani-origin Jabir Moti, now undergoing extradition proceedings to the US.
While in custody and until the first hearing in his extradition case next week, Modi is likely to be held in a separate cell but may also have to share a cell with other prisoners given the overcrowding pressures. Modi's legal team was headed by Barrister George Hepburne-Scott and his solicitor, Anand Doobay, is the same legal expert hired by liquor baron Vijay Mallya in his extradition proceedings against India.
Ex-cricketer Gautam Gambhir joins BJP , says ‘Impressed by PM Modi’s vision’
In the 2009 general election, he again won from the same seat but he was not nominated from the seat in 2014 general election. Gambhir is the only Indian and one of four worldwide cricketers to have scored hundreds in five consecutive Test matches.
Modi's solicitor Anand Doobay was in touch with the extradition unit of the Scotland Yard and an "arrest by agreement" was being discussed wherein he was to be presented at the Westminster magistrate court on March 25. He was remanded in custody until his next appearance at the same court on March 29.
Modi, 48, is fighting extradition to India.
Nirav's whereabouts was a hot button issue in India, he was reportedly arrested because he was trying to open a bank account.
Fugitive Nirav Modi, accused in PNB scam, has been arrested in London.
Final Islamic State Stronghold in Syria Falls
The jihadists have been putting up a desperate fight, their notorious propaganda machine working even on the brink of collapse. FILE - Smoke rises from the last besieged neighborhood in the village of Baghuz, Deir el-Zour province, Syria, March 18, 2019.
Modi had been in touch with authorities to arrange to turn himself in at a London police station next week, Hepburne Scott said.
The son of a diamond merchant, Modi built an worldwide jewellery empire that stretched from India to NY and Hong Kong. Mallya and Nirav Modi deny the allegations.
The third generation of his family to go into the diamond trade, Modi is worth $1.73 billion, according to Forbes. "[The] government of India continues to actively follow up this matter with the authorities concerned in the United Kingdom, with a view to have Nirav Modi extradited to India at the earliest", Kumar said. "In a related development, the special court also allowed sale of 11 vehicles belonging to Mr Nirav Modi on an application by the ED".
US Fed now expects no rate hikes in 2019
Federal Reserve announced to leave interest rates unchanged after concluding a two-day policy meeting Wednesday afternoon. At least nine of the Fed's 17 policymakers reduced their outlook for the fed funds rate, a comparatively large number.