London/New Delhi, March 20 -- Fourteen months after he fled India, fugitive diamantaire Nirav Modi has been arrested in London in connection with a Rs 13,500 crore PNB fraud case and was sent to police custody till March 29 after being denied bail.
The 48-year-old businessman was arrested from Holborn on Tuesday afternoon on behalf of Indian authorities and was produced before a judge at the Westminster Magistrates Court on Wednesday.
He was denied bail and will stay in custody until the next hearing on March 29.
According to informed sources, the Westminster court in its lengthy hearing observed that Nirav Modi should be kept in Metropolitan Police custody due to his involvement in fraud of high value funds and access to means of escape...