Arrest Warrant for Nirav Modi |
After the concrete efforts by the Govt to bring the economic offenders to justice the Diamond tycoon Nirav Modi is likely to be arrested soon as the London Court has issued a provisional arrest warrant against him. The diamond trader allegedly responsible for the 13,000 crore Punjab National Bank scam Nirav Modi is most likely to be arrested soon as the Westminster Court in London has issued a provisional arrest warrant against him. Nirav will be produced before the Westminster Court in order for the trial to begin. India has sent an extradition request to UK last year to bring him to justice. The Enforcement Dept. has also registered a case against Modi and others under the Provisions of Money Laundering Act after CBI registered an FIR against him. 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. Recently the UK daily The Telegraph had reported seeing Modi in the streets of London. Modi`s assets worth Rs 1,873.08 crore have been attached by the ED under PMLA, and has also seized assets owned by him and his family worth Rs.489.75 crore.
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