Fugitive diamond businessman Nirav Modi has been arrested in London and will be presented at Westminster Court. The same court issued an arrest warrant against him. Nirav Modi had fled India looting around 13 thousand crore rupees. He was seen in London a few weeks ago. After this, Indian investigative agencies have boosted their efforts to bring him back to India. In January 2018, Nirav Modi escaped from India.
Nirav Modi’s list of crimes is long. Nirav Modi is fleeing for the last 15 having debted for over 13 thousand crores on banks. The economic momentum of PNB Bank has stalled due to the Modi case and their stock fell to the ground.
On the arrest of Nirav Modi, Union Minister Prakash Javadekar said that the fight against corruption will continue. Mitchell, Talwar, Saxena were all brought back to all India. Such actions will continue.
Nirvav Modi’s assets are getting wiped in India too. It is now reported that the PMLA court has allowed 11 cars and 173 paintings of Nirav Modi to go to auction. This permission was sought by the Enforcement Directorate. The court has issued a non-bailable warrant against Nirav Modi’s wife.