In a major development, a London court on Monday issued an arrest warrant against diamond merchant Nirav Modi, who is wanted in India for an alleged loan default case, according to the sources in the Enforcement Directorate.
India had already requested the extradition of Nirav Modi from the United Kingdom.
The development comes days after the fugitive was tracked down to a 33-storey Centre Point Apartment complex in London's Theatre District.
The tower was an office complex and was converted into luxury residences with prices ranging from PS2 million to PS55 million all with superb views over the city of London.
Modi is believed to be living in a property worth PS8 million apartments in the tower, the rent for a similar apartment in the tower comes to approximately PS17,000 a month, stated the Daily Telegraph.
On March 9, Ministry of External Affairs spokesperson Raveesh Kumar had said that India is making strong efforts to bring back the fugitive businessman and was waiting for a response from the United Kingdom with regard to its extradition request sent in August last year.
At a media briefing here, Raveesh Kumar said the government is aware of Modi's presence in the UK and had made the request for his extradition in August last year. He added that the fact the UK was sent that request clears that India is aware of his presence in that country and action has been initiated for his extradition.
Nirav Modi, one of the prime accused in the PNB scam in India. Modi is the subject of an extradition request by India, along with an Interpol Red Corner Notice being issued for the PNB scam accused. Modi is the prime accused in the Rs 13,000 crore PNB fraud, along with his uncle Mehul Choksi.
Choksi was granted citizenship of Antigua and Barbuda on January 15, 2018, while Modi is in London.
Both Modi and Choksi left India in January last year before the PNB scam came out in the public. The duo has not returned to India despite repeated summons from probe agencies and courts.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)