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After Nirav Modi arrest in London, it’s raining memes and jokes online

After Nirav Modi arrest in London, it’s raining memes and jokes online

Punjab National Bank, according to Reuters, claimed a year ago that two jewelry groups operated by Modi and his uncle, Mehul Choksi, defrauded it by working with rogue staff.

Nirav Modi's arrest comes nearly a year and a half after he had fled India.

Scotland Yard confirmed he was arrested on behalf of the Indian authorities in the Holborn area on Tuesday afternoon, and is due to appear at Westminster Magistrates' Court on Wednesday.

In contrast, Modi's case may be decided over a shorter time-frame, given the different, seemingly clearer charges of impropriety and fraud against him, his family and others, including some PNB officials, as outlined in CBI's chargesheet filed in Indian courts. This includes properties in India and overseas as well as jewelry and bank deposits.

However, it would not matter if Modi remains on United Kingdom soil, but there could be delays with a long legal battle ahead subject to various worldwide and extraterritorial legalities involved, cautioned Zaiwalla.

India's premiere investigative agencies, the Enforcement Directorate as well as the CBI are probing the PNB scam involving Modi and his Uncle and aide Mehul Choksi.

Modi is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.

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Before Nirav Modi went missing from the country in 2018, he was seen with Prime Minister Modi at the World Economic Forum in Davos, Switzerland.

February 17, 2018: Government revokes passports of Nirav Modi and Mehul Choksi for four weeks. His wife Ami, a USA citizen, brother Nishal, a Belgian, and uncle Choksi, Gitanjali group's promoter, had also fled the country in the first week of January.

April 5, 2018: Following the request from the ED, regulators in Belgium freeze two bank accounts of billionaire diamond jeweller Nirav Modi.

"The arrest warrant clearly implies that the court is satisfied that there are reasonable grounds for believing that the conduct described in the request is an aextradition offence".

Interpol issued a "red notice" for Modi's arrest past year, as well.

Even as the campaign was launched, the Congress and several Opposition parties tried to corner the BJP - asking about Nirav Modi and Vijay Mallya.

News agency ANI has tweeted, "Enforcement Directorate: Fugitive diamond merchant Nirav Modi arrested in London, to be produced in court later today".