Fugitive billionaire Nirav Modi wanted in Rs. 14,000 crore Punjab National Bank scam case, being spotted in London, is a shot in the arm for the opposition which slammed the Centre for its "failure" to bring back the accused to justice while he apparently thrived elsewhere.
Nirav Modi, one of the prime accused in the multi-crore Punjab National Bank (PNB) scam has been tracked down to London's West End where he has reportedly begun a new diamond business.
The long-drawn extradition process of fugitive Nirav Modi - who has been in London for almost a year after leaving India in the wake of allegations of major financial rows - is set to begin in British courts after home secretary Sajid Javid certified India's request on Thursday. The video shows Nirav Modi sporting a handle-bar moustache and wearing an expensive jacket worth £10,000 or Rs 9 lakh Ostrich Hide jacket. Another reporter then says that the businessman owes people in India a lot of money and those people would want to know his whereabouts.
Nirav Modi and his uncle Mehul Choksi are under probe by both the Central Bureau of Investigation (CBI) and the ED. It has been described as the biggest fraud in Indian banking history.
PNB Scam accused Nirav Modi's bungalow in Alibag, Raigad district demolished by authorities.
The BJP aimed to turn the narrative of blame on the Nirav Modi case, and instead said it was under the Narendra Modi government that the fraud was unveiled.
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Last year, the state government had written to the ED, which had sealed the bungalow, seeking a nod to demolish the property on Kihim beach near Alibaug.
Interpol red notice's is a request sent to police across the globe to find and arrest someone "pending extradition, surrender, or similar legal action". Choksi was granted citizenship of Antigua and Barbuda on January 15, 2018, while Modi is in London.
"The business, which was incorporated last May, is linked to his flat in Centre Point although he is not listed as a director at Companies House", the Telegraph reported, wondering how Modi's presence remained unnoticed by the British authorities.
The Telegraph report said it was not clear why the British government had given him a National Insurance number to Nirav.
Nirav, the report revealed, takes a daily walk from his home to the office with his dog.
A source told the the United Kingdom daily that Modi had been given a National Insurance number by the Department for Work and Pensions, meaning he can legally work in Britain, and has used British bank accounts. "He has also been in contact with a wealth management company based in west London, which specialises in advice to rich foreigners", stated the newspaper.