Fugitive billionaire diamantaire Nirav Modi, a chief accused in $2 billion PNB rip-off, has been arrested in London on Wednesday the place a court docket remanded him in custody until March 29. The Westminster Court docket has denied the bail plea filed by him, saying that he’s a flight threat, which implies that he has sufficient sources and motive to flee as soon as once more.
Nirav Modi, who has been on the run since February 2018, was arrested by the UK authorities on behalf of the Indian Authorities on Tuesday. The 48-year-old billionaire had been discovered to be doing diamond enterprise in the most effective and high-end markets of London regardless of India’s efforts to carry him again.
Final week, the UK Dwelling Secretary’s workplace moved the extradition file of Nirav Modi to the Westminster Court docket in London, discovering his case “match for extradition”. He had entered the UK on a ‘golden visa’ issued on his now-revoked Indian passport. It’s a tier-1 investor visa issued to people from international locations exterior the European Union and Switzerland.
Additionally Learn: Nirav Modi arrested: What is the authorized course of forward for extradition?
Here is round-up of occasions on what has occurred to the fugitive financial offender to date.
March 20, 2019: Nirav Modi arrested in London after a yearlong chase and remanded in custody until March 29.
March 19, 2019: He was positioned beneath arrest by Metropolitan Police, London.
March 18, 2019: An arrest warrant issued by the Westminster Magistrates Court docket, sources have mentioned. The warrant had been issued final week, and India had been made conscious of this on Monday.
March 9, 2019: The UK Dwelling Secretary moved the extradition file of diamantaire Nirav Modi to the Westminster court docket in London.
February 26, 2019: The ED connected properties value Rs 147.72 crore owned by the diamond service provider and his corporations, beneath the Prevention of Cash Laundering Act (PMLA).
November 6, 2018: Nirav Modi’s 11 properties in Dubai, value Rs 56 crore, had been seized by the ED.
October 1, 2018: The ED had connected belongings value Rs 637 crore of Nirav Modi and his members of the family, together with two flats at New York’s iconic Central Park.
July 26, 2018: A PMLA court docket summoned Nirav Modi and his uncle Mehul Choksi, needed in a 13,000-crore Punjab Nationwide Financial institution rip-off, to seem earlier than it on September 25 and 26 respectively.
July 2, 2018: Interpol points purple nook discover towards Nirav Modi.
June 25, 2018: The ED moved a PMLA court docket in Mumbai, in search of Nirav Modi’s extradition from the UK, Belgium, and different international locations, as his location had not been confirmed.
February 28, 2018: Firestar Diamond Inc, the flagship firm of Nirav Modi, information for chapter in america.
February 27, 2018: A Justice of the Peace’s court docket points a bailable arrest warrant towards Nirav Modi.
February 24, 2018: Diamond dealer Nirav Modi’s passport was revoked by the Ministry of Exterior Affairs of India.
February 21, 2018: CBI arrested Vipul Ambani, CFO of Nirav Modi’s firm and two different senior executives of the corporate. It additionally sealed his farmhouse in Alibaug.
February 20, 2018: A letter that Nirav Modi wrote to the PNB administration on February 15/16 got here out; mortgage default pegged round Rs 5,000 crore.
February 19, 2018: CBI summoned Nirav Modi’s Chief Monetary Officer and seals Mumbai’s PNB department.
February 18, 2018: CBI arrested former PNB Deputy Supervisor Gokulnath Shetty, single window operator Manoj Kharat and group’s authorised signatory Hemand Bhat.
February 16, 2018: ED carried out raids and searches. CBI filed second FIR towards Mehul Choksi.
February 15, 2018: Nirav Modi and Mehul Choksi passport revoked. CBI received diffusion discover.
February 14, 2018: PNB filed complain to the CBI about Nirav Modi alleging fraudulent transactions value about Rs 11,400 crore. The financial institution mentioned that cash had been illegally transferred overseas from its department in Mumbai as its personal officers violated guidelines and put out unlawful assure paperwork to assist the superstar jeweller safe credit score from banks overseas.
January 31, 2018: CBI carried out raids and searches and opens a Look Out Round towards him.
January 30, 2018: CBI filed the primary FIR towards Nirav Modi, his brother Nishal Modi, uncle Mehul Choksi and spouse Ami Modi.
January 29, 2018: PNB filed the primary criticism with CBI pegging the LoU rip-off at 280 crore rupees. By then, all had left the nation.
Whereas Nirav Modi and Nishal left India on January 1, Choksi did so on January four and Ami on January 6.
Edited by Chitranjan Kumar
Additionally Learn:Nirav Modi denied bail by UK court docket, to stay in custody until March 29