Fugitive Economic Offender Nirav Modi has been arrested in United Kingdom, reports The Indian Express.He will be produced before the Court shortly. Two days back, the Westminster Court, London had issued a provisional arrest warrant against the diamond trader who is allegedly responsible for the Rs.13,000 crore Punjab National Bank scam will be arrested soon. Earlier, Enforcement...
Fugitive Economic Offender Nirav Modi has been arrested in United Kingdom, reports The Indian Express.
He will be produced before the Court shortly.
Two days back, the Westminster Court, London had issued a provisional arrest warrant against the diamond trader who is allegedly responsible for the Rs.13,000 crore Punjab National Bank scam will be arrested soon.
Earlier, Enforcement Directorate (India) had registered a case against Modi and others under the Provisions of Money Laundering Act after CBI registered an FIR against him under Sections 120-B r/w 420 of IPC read with Section 13(2) read with 13(1)(d) of Prevention of Corruption Act, 1988.
According to ED and the CBI, Nirav Modi and his uncle Mehul Choksi, in connivance with officials of PNB managed to get fraudulent Letters of Understanding issued without following the due process causing a massive loss to the bank.
Enforcement Directorate's Action Against Nirav Modi
ED searches 17 premises across India of Nirav Modi & Geetanjali Gems in case related to fraud in PNB. Stocks of Gold, Diamond & Precious stones worth Rs 5100 crore seized.
— ED (@dir_ed) February 15, 2018
ED freezes Rs 30 crore in bank accounts & shares worth Rs 13.86 crore held in a Nirav Modi Company. Acting on a tip off, ED also recovers huge quantity of imported watches stacked in 176 steel almirahs, 158 corrugated boxes & 60 plastic containers. pic.twitter.com/jg9IQLQuy4
— ED (@dir_ed) February 23, 2018
ED searches Nirav Modi's Samudra Mahal & seizes high end/ antique jewellery worth Rs 15 crore , watches worth Rs 1.40 crore & paintings of Hussain, Hebbar, Amrita Shergil worth Rs 10 Crore. Total attachment & seizures made till now is worth Rs 7664 Crore. pic.twitter.com/tIW0cYyrpZ
— ED (@dir_ed) March 24, 2018
ED files Prosecution Complaint under Section 45 of PMLA, 2002 against Nirav Modi, Ms Purvi Modi, Maiank Mehta, Neeshal Modi, Nehal Modi, Deepak Modi and 18 other accused of offence of Money Laundering.
— ED (@dir_ed) May 24, 2018
ED files two separate applications against Nirav Modi & Mehul Choksi under Fugitive Economic Offenders Ordinance,2018 and also seeks orders for confiscation of their assets in India, UK & UAE.
— ED (@dir_ed) July 11, 2018
ED seizes/attaches various assets & valuables (Cut and Polished Diamonds) worth Rs 218.46 Crore in PNB scam case belonging to Mihir Bhansali, A. P. Gems & Jewellery Park, Hyderabad, Mehul Choksi, Nirav Modi & others. Total attachment till date now is Rs 4489 Crore(assessed value)
— ED (@dir_ed) October 17, 2018
ED attaches 11 properties in Dubai of Mr. Nirav Modi and his group Company M/s Firestar Diamond FZE having market value of US$ 7.795 million equivalent to ₹ 56.8 Crore, under PMLA, 2002 in #bankfraud case.
— ED (@dir_ed) November 6, 2018
Request for Extradition of Nirav Modi to India was sent in July 2018 to UK. The UK Central Authority of Home Office has confirmed that the Extradition Request has been sent to the Westminster Magistrate Court for the District Judge for further proceedings.
— ED (@dir_ed) March 9, 2019