TIWN
London, July 25 (TIWN) A British court on Thursday extended till August 22 the judicial custody of Nirav Modi in connection with the Rs 13,500 crore Punjab National Bank (PNB) fraud case.
The Westminster Magistrates Court ordered the Metropolitan Police to place him in its custody till the next hearing on August 22. The 48-year-old businessman, wanted in India, was arrested from Holborn here on March 19.
Since then he has been fighting extradition proceedings. Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate and the Central Bureau of Investigation after the PNB alleged that they cheated it of Rs 13,500 crore with the involvement of some bank employees. Modi also faces charges under the Fugitive Economic Offenders Act. The ED has filed a chargesheet against Choksi in a Prevention of Money Laundering Act Court in Mumbai. Both fled India before details of the fraud emerged in January 2018.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals