Fugitive billionaire jeweller Nirav Modi was denied bail in a London court on Friday, following his arrest last week by British authorities on charges over his alleged involvement in a $2 billion fraud at India's state-run Punjab National Bank.
Fugitive billionaire jeweller Nirav Modi, wanted by Indian authorities over a $2 billion loan fraud at state-run Punjab National Bank (PNB) was remanded in custody after appearing before a British court on Wednesday.
Interpol has issued a red notice request to find and arrest fugitive Indian billionaire jeweller Nirav Modi, who is at the heart of a $2 billion-plus bank fraud case, the international agency said on its website.
India's federal police has asked Interpol to help locate and arrest billionaire jeweller Nirav Modi, who is at the heart of a $2bn-plus bank fraud case, a federal police source said on Monday.
The whereabouts of Nirav Modi and his uncle Mehul Choksi, the other person accused in India's biggest banking fraud at the country's second-largest state lender, have been unknown.
The cabinet had also approved the constitution of a National Financial Reporting Authority, which would be "an oversight body" monitoring accounting and auditing irregularities, Jaitley said.
The Institute of Chartered Accountants of India said it has asked the Securities and Exchange Board of India, Punjab National Bank and federal investigating agencies to share their findings about the alleged fraud.
The Enforcement Directorate (ED), an Indian agency focused on foreign exchange and money laundering offences, has been conducting separate searches at homes and offices of Nirav Modi.
The Central Bureau of Investigation (CBI) said Rajesh Jindal, the former head of the bank's Brady House branch in Mumbai between August 2009 and May 2011, was arrested, taking to six the tally of bank officials arrested.