New Delhi: On Wednesday, Jewellery designer Nirav Modi was arrested in London after Westminster Court issued a warrant. The fugitive businessman will be produced in the court shortly, sources said. He will be produced in Westminster Court at around 3:30 PM. Earlier, CBI sources had said that a central probe agency was monitoring the developments taking place in London and all legal assistance was being extended to take the extradition request forward in that country.

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The legal procedure of extradition of an accused takes its own time and Indian investigators, both from the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), are tracking the case, the sources said. Nirav Modi had entered the United Kingdom (UK) on a golden visa. It is a tier-1 visa which British government issues to investors outside the European Union (EU) on a commitment to invest about £2 million in UK government bonds or shares of a company,

Here it is to be noted that ED officials had said that a London court has issued an arrest warrant against the jewellery designer, the main accused in the Rs 14,600 crore PNB scam case, in response to the probe agency's request for his extradition in a money laundering case. The financial investigation agency was recently informed about the issuance of the warrant by the Westminster Magistrate Court and Modi is expected to be put under formal arrest by the local police soon.

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The CBI and the ED are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed last year.