Fugitive billionaire jeweller Nirav Modi was arrested in the Holborn area of central London. - Reuters

LONDON: Fugitive billionaire jeweller Nirav Modi had been arrested in London on behalf of the Indian authorities, British police said on Wednesday.

India had asked Britain in August to extradite Modi, one of the main suspects charged in the US$2 billion loan fraud at state-run Punjab National Bank (PNB), India’s biggest banking fraud.

Police said Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London’s Westminster Magistrates Court on Wednesday. --Reuters

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