Nirav Modi to be handcuffed till March 29 in UK

London, March 22: A UK court has remanded the fugitive jeweller Nirav Modi, in custody till March 29, saying there are substantial grounds to believe that he would fail to surrender if granted bail. Nirav was arrested in Holborn on Wednesday. He is the main accused in the 13,500 crore rupees Punjab National Bank scam case.

He was produced before the Westminster Magistrates' Court today, where he contested his extradition to India. District Judge Marie Mallon denied bail to Nirav Modi and remanded him in custody till March 29.

His arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.

UK home secretary Sajid Javid had certified India's extradition request for Nirav Modi earlier this month, triggering the legal process in the courts, kick-started with the issuance of a warrant.

India has welcomed the arrest of fugitive jeweller Nirav Modi by British authorities in London, pursuant to the arrest warrant issued by the Westminster Magistrate Court.

Responding to a question, External Affairs Ministry Spokesperson Raveesh Kumar said, India continues to actively follow up this matter with the authorities concerned in the United Kingdom, with a view to have Nirav Modi extradited to India at the earliest.