The BJP Wednesday hailed the arrest of jeweller Nirav Modi by the London police and credited it to the work done by Indian investigative agencies and the Narendra Modi-led government's "political authority".

Senior party leader and Law minister Ravi Shankar Prasad said the government is following the plea for the fugitive diamantaire's extradition in right earnest and asserted that India's global stature will be an "important factor".

Nirav Modi, the main accused in the USD 2 billion PNB scam case, has been arrested in London where a court Wednesday remanded the fugitive diamantaire in custody till March 29, saying there are "substantial grounds" to believe that he would fail to surrender if granted bail.

"The Narendra Modi government is pursuing all fugitives, be it Nirav Modi, Christian Michel or Vijay Mallya, and surely all the 'raajdars' (those having secrets) are going to speak a lot," he said. AgustaWestland case accused Michel was recently deported by the UAE.

"The arrest of Nirav Modi is an indication of effective work done by investigative agencies, the CBI and the ED, and the political authority with which the Narendra Modi government has sought to nail him," Prasad added.

He noted that many properties of Nirav Modi were confiscated by the investigative agencies. Prasad attacked the previous UPA government, saying most of the "bank indulgences" to Nirav Modi were made under its rule, including benefits given to diamond companies in matters of export and import after it had lost power in 2014.

The benefits were given when the BJP-led government was yet to take charge following the Lok Sabha election results in 2014, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)