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Warrant against Nirav Modi

Over a month after the UK ordered the extradition of business tycoon Vijay Mallya, who is accused of defrauding banks and laundering money to the tune of Rs 9,000 crore, a London court has issued an arrest warrant against fugitive diamantaire Nirav Modi, the main accused in the Rs 13,500-crore Punjab National Bank scam.

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Over a month after the UK ordered the extradition of business tycoon Vijay Mallya, who is accused of defrauding banks and laundering money to the tune of Rs 9,000 crore, a London court has issued an arrest warrant against fugitive diamantaire Nirav Modi, the main accused in the Rs 13,500-crore Punjab National Bank scam. The development, which comes weeks before the high-stakes Lok Sabha elections, is a shot in the arm for the NDA government, which has been under fire from the Opposition for allegedly failing to stop high-profile offenders from fleeing the country. Incidentally, the news regarding the arrest warrant came hours after Congress president Rahul Gandhi took potshots at PM Narendra Modi, accusing him of acting as a ‘chowkidar’ (watchman) for the likes of Mehul Choksi, Nirav Modi, Lalit Modi and Vijay Mallya.

The legal proceedings for the diamond jeweller’s extradition will start only after his formal arrest by the London Metropolitan police, even as he has the option of seeking bail. Going by the apparent fast-tracking of the Mallya and Nirav Modi cases, it’s easy to jump to the conclusion that Britain is finally cracking the whip on tainted moneybags from other countries. Facing the heat from India and other nations, the UK had late last year decided to suspend the ‘golden visa’ scheme, which offers permanent residency on a platter for an investment of £5-10 million. However, the authorities soon did a U-turn on the scheme, which has helped several big shots find a safe haven in Britain while escaping punishment for their misdeeds in their home country. The UK needs to consistently demonstrate its judicial and political will in order to shed the ‘harbourer’ tag.

The breakthrough in the Nirav Modi case might weaken the Opposition’s anti-corruption tirade against the ruling BJP. However, the Congress and Co will certainly wonder why the wheels of justice have started moving so late, why things were allowed to come to such a pass. The government owes an explanation to the nation on this count.

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