A luxury apartment in central London linked to jailed former jeweller Nirav Modi can now be sold after a UK court approved the transaction, setting a minimum sale price of £3.75 million.
An official recognised him while he was attempting to open a bank account. His extradition proceedings have since been delayed by several High Court appeals on human rights grounds, a failed confidential political asylum claim and a series of unsuccessful bail pleas. He has been in custody since his arrest in 2019 over allegations linked to the USD 2 billion Punjab National Bank ( PNB ) fraud. Modi was arrested by Scotland Yard officers on an extradition warrant at a Metro Bank branch in central London on March 19, 2019.
Master James Brightwell, who presided over a hearing in the Chancery Division of the High Court on Tuesday, gave the “court’s blessing” for the sale of 103 Marathon House in central London, with the minimum price set at £3.75 million, news agency PTI reported.
In this case, that is supported by the fact that the court made an order for sale in 2023 and reiterated this with a further order to lower sale price in 2024 was ultimately made with the assent of the other active parties,” Master Brightwell ruled, as reported by the agency. “The natural starting point is that the debts that are due should be paid. Modi attended the hearing via videolink from HMP Wandsworth, the south-west London prison where he is lodged while continuing to contest separate extradition proceedings. He had opposed the sale of the property as one of the named defendants in this week’s hearing.
Modi claimed that he was the “true settler” of the trust and should therefore be treated as a beneficiary.
