Nirav Modi, the celebrity jeweller wanted in a 13,000-crore, was arrested in London on Tuesday after a yearlong chase that spanned several countries and became symbolic of India’s inability to catch high-profile offenders. He was picked up on Wednesday from a metro station Holborn, central London, said officers in the Enforcement Directorate, which is probing the case against him.
Produced within hours at the Metropolitan Magistrate’s court, he had offered half-a-million pounds as bail bond, but the court turned it down. He will be in jail till March 29, when the next hearing will take place.
Judge Marie Mallon said she was remanding Nirav Modi to custody “given the high value of amount involved in the allegations, and the access you may have to means of escape… I have substantial grounds to believe that you may fail to surrender”.
A week ago, the UK issued a warrant against him following India’s request for his extradition. But a decision on the extradition cannot be taken without a long-drawn legal process, as is happening in the case of fugitive liquor baron Vijay Mallya, who fled to the UK in 2017 as banks tried to recover loans to the tune of Rs. 9000 crore from him.
The UK has recently approved Vijay Mallya’s extradition, but the matter is now pending with its Home Office.
Source – NDTV