Fugitive billionaire jeweller Nirav Modi arrested in London: British police

E-Paper | March 11, 2026

Fugitive billionaire jeweller Nirav Modi arrested in London: British police

Reuters Published March 20, 2019

Punjab National Bank said last year that two jewellery groups headed by Nirav Modi and his uncle had defrauded it. ─ File photo by The Statesman

Fugitive billionaire jeweller Nirav Modi has been arrested in London on behalf of the Indian authorities, British police said on Wednesday.

India had asked Britain in August to extradite Modi, one of the main suspects charged in the $2 billion loan fraud at state-run Punjab National Bank (PNB), India's biggest banking fraud.

Police said Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London's Westminster Magistrates Court today.

Punjab National Bank, Indias second-largest state-run bank, in 2018 said that two jewellery groups headed by Modi and his uncle Mehul Choksi had defrauded it by raising credit from other Indian banks using illegal guarantees issued by rogue PNB staff.

Modi and Choksi, who have both denied wrongdoing, left India before the details of the fraud became public.

In December, a British court agreed that another high-profile Indian businessman, aviation tycoon Vijay Mallya, could be extradited to his homeland to face fraud charges. Mallya is currently appealing the decision.

World

The rise and fall of Nirav Modi

Indian banks may take over $3bn hit from PNB fraud

Ranajyoti

Mar 20, 2019 03:37pm

Next target Malta, his time too, running out.

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Sweets

Mar 20, 2019 03:39pm

All these economic fugitives have to return the looted wealth and pay their time in jail.

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Lahore Vivek

Mar 20, 2019 03:40pm

When will pakistan arrest Ishq Dar who's is in London as well

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Shubham Chakraborty

Mar 20, 2019 03:44pm

Modi....

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Bipul

Mar 20, 2019 03:52pm

Wow. This will be first of its kind arrest in London where all the corrupts and criminals from all over the world has found safe home.

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Reynolds

Mar 20, 2019 03:53pm

You're going home Modi to face justice.

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Ponder

Mar 20, 2019 04:03pm

See the power of India,

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Bikram Singh

Mar 20, 2019 04:03pm

Power of PM Modi :)

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sri1

Mar 20, 2019 04:11pm

Steadily, things are getting better in India. After the drastic improvement in the world bank's index for "ease of doing business" the next frontier would be corruption indexes. Way to go Modiji, India trusts you to do the needful. In all aspects, and not just warning signals.

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bhaRAT©

Mar 20, 2019 04:15pm

Another Modi in hot waters. Rahul Gandhi was right about them.

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Aravind

Mar 20, 2019 04:16pm

PM Modi walking the talk. 2019 Modi again.

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Osama

Mar 20, 2019 04:17pm

At least this Modi was brought to justice

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Sweets

Mar 20, 2019 04:21pm

@Lahore Vivek, India has a deal with UK when Theresa May visited India post Brexit.India is a huge market which UK can't resist for few people like this. Infact India made the same kind of deal with UAE too. Reason why Micheal was extradited to India on Agusta scam during Congress rule

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Mar 20, 2019 04:27pm

Pl bring him to India and make him to pay back. Also put him and his masters congmen behind bars

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Shyam

Mar 20, 2019 04:42pm

that became possible only due to effective govt in India.

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Atul Mathur

Mar 20, 2019 04:46pm

Why was he allowed to leave India in the first place only to offer him celebrity like arrest just weeks before the election ?

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Wasim

Mar 20, 2019 04:49pm

This is what is India. No one can escape from the law of the land. The intention is clear, punish the criminals.

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Jjacky

Mar 20, 2019 04:55pm

Bad news for comgress.

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Zak

Mar 20, 2019 05:01pm

Another Modi. Not surprising!

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Zak

Mar 20, 2019 05:50pm

@Ponder, It's the power of signing up to 'Interpol'.

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Zak

Mar 20, 2019 05:51pm

@Sweets, Doubt it. In India they will pay their way through, because Modi is corrupt.

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jfajlaj

Mar 20, 2019 06:00pm

@Lahore Vivek, go ask them.

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faisal

Mar 20, 2019 06:12pm

Will be released soon.

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Rani

Mar 20, 2019 06:17pm

he was patronized and protected by another modi

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Harith

Mar 20, 2019 06:56pm

@Wasim, Nirav was arrested ny UK police and he is under UK court, until the UK Court orders the UK home secretary, Mr. Sajid Javed, to extradiate him to the Indian authorities; but even@ this stage, the British Home secretary has many dicscrtionaly powers in this issue; this will take more time, even though, his arrest and bail denial are good steps forward; UK should stop giving PR and safe heaven to these kind of fugitives, including Vijay malya, in the name of humanrights; these thieves caused massive human rights abuse in India by stealing thousands of innocent's money and ran away;tomorrow, they can do the same to UK and wil run away. UK and EU must change their polocies even now.

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Must learn

Mar 20, 2019 07:13pm

@Lahore Vivek, Pak now can use this case as precedent, and ask UK authorities to exrtradite all the criminals including money launderers back to Pakistan.

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Rashid In Chicago

Mar 20, 2019 07:20pm

@Lahore Vivek, How come British court agreed to arrest Indian but not Ishaq Dar?

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Raj patel

Mar 20, 2019 08:03pm

Power of NaMo.

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ahmed

Mar 20, 2019 08:24pm

UK, send this Modi home to face the courts. UK has been harboring these criminals long enough and that must stop.