Nirav Modi-linked London flat sale approved by UK court amid extradition fight
A UK court has approved the sale of a luxury London flat linked to fugitive diamantaire Nirav Modi, who has been in jail in the British capital since 2019 while contesting extradition to India in a fraud and money laundering case. Modi, 55, is accused in the USD 2 billion Punjab National Bank fraud case.
At a hearing in the Chancery Division of the High Court on Tuesday, Master James Brightwell gave the court’s approval for the sale of 103 Marathon House in central London at a minimum price of 3.75 million pounds. The case was brought by Trident Trust Company (Singapore) Pte Limited, while India’s Enforcement Directorate had earlier argued successfully that the sale proceeds should be placed in a secure account after all pressing liabilities of the trust are cleared.
In his ruling, Master Brightwell said, "The natural starting point is that the debts that are due should be paid. 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." He also said, "The third defendant’s (Nirav) complaints about the way in which the trustee has set out its decision do not render the decision one which a trustee could not properly reach."
Modi joined the hearing through videolink from HMP Wandsworth in south-west London, where he is lodged as he continues to fight separate extradition proceedings. Named as one of the defendants in the hearing, he had opposed the sale of the property, claiming he was the "true settler" of the trust and should be treated as a beneficiary.
It is believed that, after exhausting other legal options, Modi may have submitted a second claim for political asylum in an attempt to avoid extradition to India. He was arrested by Scotland Yard officers on an extradition warrant at a Metro Bank branch in central London on March 19, 2019, after he was recognised by an official while trying to open a bank account. Delays in his extradition have included several High Court appeals on human rights grounds, a failed confidential political asylum claim, a series of unsuccessful bail pleas, and an attempt to reopen his extradition case that was rejected by the England High Court in March this year.
The latest court order clears the way for the sale of the central London flat linked to Modi, with the proceeds to be secured after the trust’s pressing liabilities are met, even as he remains in prison and continues his legal fight against extradition to India.
