Nirav Modi Arrested in London : Big Diplomatic Victory of Chowkidar

A prison van carrying unknown occupants leaves Westminster Magistrates Court in London shortly after fugitive Indian diamond tycoon Nirav Modi was denied bail in a hearing Wednesday

Rs 13000-crore PNB scam accused Nirav Modi arrested in London

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.

Nirav Modi, who was seen roaming on the streets of London recently, has been arrested by the London police.

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.

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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.

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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".

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