Nirav Modi arrested in London, to appear at UK court shortly

Fugitive businessman Nirav Modi, who has been on the run since February 2018, has reportedly been arrested by the UK authorities. He will be taken to the Westminster court on Wednesday itself, as per reports.

A London court had issued the arrest warrant against Modi, the main accused in the PNB scam case, in response to an Enforcement Directorate (ED) request for his extradition in a money laundering case.

The ED and the Central Bureau of Investigation (CBI) are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed in early 2018.

Modi, 48, is currently living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block in London, where rent is estimated to cost £17,000, The Telegraph of the UK had reported.

He has been charge sheeted by both the agencies and the ED has also attached his assets worth Rs 1,873.08 crore under the Prevention of Money Laundering Act (PMLA), and has also seized assets linked to him and his family worth Rs 489.75 crore.