AAP leader Sanjay Singh said on Wednesday there was no point in arresting fugitives like Nirav Modi until taxpayers' money looted by them is returned to the country.

Nirav Modi, the main accused in the USD 2 billion Punjab National Bank scam case, was arrested in London where a court on Wednesday remanded the fugitive diamantaire in custody till March 29, saying there were substantial grounds to believe that he would fail to surrender if granted bail.

Reacting to the development, Singh said fugitive Vijay Mallya was also arrested recently, but the matter died down.

He said till the taxpayers' money looted by fugitives like Nirav Modi was returned to the country, there was no point in such arrests.

"The fugitive economic bill has been passed by the Parliament, so the property owned by these people in the country should be auctioned by the government to return people's money -- that is our demand. The government should be worried about how the loot by these people should be returned to the country," the AAP leader said.

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 for his extradition in a money laundering case.

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