Published: Thu, March 21, 2019
Global Media | By Garry Long

Modi remanded in custody after court appearance

Modi remanded in custody after court appearance

London's Westminster court today remanded Punjab and National Bank (PNB) scam accused Nirav Modi, 48, to custody, it was the first time the fugitive businessman was in court.

Nirav Modi's arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate (ED) for his extradition in a money laundering case.

Mr. Modi was arrested by officers from the Met Police's extradition unit and would remain in custody until the hearing at which the granting of bail would be determined.

Through fraudulent issuance of Letters of Undertaking / Foreign Letters of Credit for payments of import bills Nirav Modi and his uncle Mehul Choksi from Feb 2011 to May 2017 were able to dupe PNB of Rs 13,000 cr. In February, India revoked his passport and later in August of previous year, India sent 2 extradition requests to UK- one each from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) - regarding the extradition of the absconding businessman.

Nirav Modi is to be produced before a magistrate court in London at 4.50 pm IST.

He was denied bail, and will stay in jail till the next hearing on March 29. Furthermore, a non-bailabl warrant has been issued by PMLA court against Ami Modi, wife of Nirav Modi.

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According to the newspaper, Modi had set up a new jewelry company while in London.

With millions of people joining the #MainBhiChowkidaar group on Twitter, the BJP made a decision to go full-throttle in pushing the campaign and blunting Rahul Gandhi's repeated charges of the Modi government apparently supporting both the corrupt and corruption. Punjab National Bank also alleged that its own employees helped Nirav Modi in carrying big-fat scam.

News of the certification of India's request came just as Modi was tracked down to a three-bedroom flat in the Centre Point tower block of luxury apartments in the West End of London.

The passports, since revoked by the Indian authorities, include one now in possession of the Metropolitan Police, a second expired passport lying with the UK Home Office and a third with the UK's Driving and Vehicle Licensing Authority (DVLA).

India's Minister of State for Housing & Urban Affairs said, "As wheels of justice grind, after Vijay Mallya, fugitive Nirav Modi has been arrested in London".

Modi's arrest is likely to boost the prospects of his namesake, the Indian prime minister, Narendra Modi (no relation), who is running for re-election in part on a platform of eradicating corruption.

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