Rs 13000-crore PNB scam accused Nirav Modi arrested in London

Posted March 21, 2019

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.

The 48-year-old's defence team, led by barrister George Hepburne Scott, told the court about the existence of the multiple travel documents during his plea for bail, which was rejected by District Judge Marie Mallon.

On Wednesday, he appeared at London's Westminster Magistrates Court accused by India of two charges of conspiracy to commit fraud and conspiracy to hide criminal property. The US$1.8b figure cited by the bank resulted in a media frenzy that pressured authorities to quickly search and seize assets from two of his companies, Firestar International and Firestar Diamond International, Modi said. Speaking to reporters on Nirav Modi's arrest, Congress leader Ghulam Nabi Azad said, "They (BJP) had only helped him flee the country, and now they are bringing him back".

Now, Nirav Modi will be produced before a London court later in the day.

US House wants Mueller report made public
Four members of the conservative House Freedom Caucus, a group strongly allied with Trump, were the lawmakers who voted "present". But none of the indictments have been for conspiracy between Trump allies and Russians. "Let's bring this chapter to a close".

In the prison in south London, 48-year-old Modi's inmates will include the likes of alleged Dawood henchman Pakistani-origin Jabir Moti, now undergoing extradition proceedings to the US.

Raveesh Kumar, a spokesman for India's foreign ministry, said he welcomed the news of Modi's arrest.

The court remanded Modi in custody till March 29, saying there are "substantial grounds" to believe that he would fail to surrender if granted bail.

The case pertains to allegedly cheating the state-run Punjab National Bank (PNB) through fraudulent issuance of Letters of Undertakings (LoUs) and Foreign Letters of Credit (FLCs). Furthermore, a non-bailabl warrant has been issued by PMLA court against Ami Modi, wife of Nirav Modi.

Five dead, 36 injured in foot bridge collapse in Mumbai
Arvind Sawant, the local Shiv Sena MP, said, "This bridge was under minor-repairing after the audit of all bridges in the city". Part of a 40-year-old bridge at the Andheri station collapsed amid heavy rain in July last year and five people were injured.

Hence, it said, the extradition request for Modi could only be sent after a chargesheet was filed against him, which was done by the agency in May past year.

On 9 March 2019, just weeks before his arrest, the British newspaper Daily Telegraph revealed that Modi was living freely in London, filming him near the luxury apartment building where he lived.

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).

After fleeing from the country in the first week of January previous year, he was seen in a Press Information Bureau group photograph of CEOs and top brass of Indian corporate sector with Prime Minister Narendra Modi at Davos, Switzerland, in January 2018.

Zidane to return as Real Madrid head coach
A major difference between the Real Zidane left and that which he is re-entering is Cristiano Ronaldo no longer being at the club. Solari was handed a contract until 2021 after overseeing an improvement following the sacking of Julen Lopetegui in November.

March 20, 2019: United Kingdom police arrests Nirav Modi.