Indian diamond billionaire on the run found in London's West End

He added that Prime Minister Modi was making it possible for such "fraudsters" to loot and run away.

India authorities in the past said that Modi was seen in the United Kingdom after fleeing the country previous year, yet London failed to act on the world-wide police alert requesting a provisional arrest of the fugitive, pending extradition proceedings. The CBI is awaiting a response on its extradition request which was sent to the United Kingdom through the External Affairs Ministry in August previous year after the confirmation from London that Nirav was in their country, agency spokesperson Nitin Wakankar said. The newspaper reported that he was wearing a jacket that was made of ostrich hide, which would have cost at least 10,000 British pounds.

The daily said Modi lives on half a floor of the Centre Point Tower Block, in an apartment whose rent is likely to be around £17,000 per month (Rs 15.5 lakh), and which costs around Rs 73 crore.

LONDONBillionaire jeweller Nirav Modi, wanted in India over the Rs 13,700-crore PNB fraud, is living freely in London, where he is now involved in a new diamond business, British newspaper The Telegraph reported on Friday after confronting him in a busy street. In the clip, he refuses to answer Telegraph reporter Mick Brown's question on whether he had applied for political asylum in the UK.

According to CBI, Diamond merchant Nirav Modi wanted for allegedly defrauding the Punjab National Bank (PNB) of over Rs 13,000 crore, left India with his family on January 1, 2018.

Non-bailable warrants were issued against Nirav Modi and Choksi. "Just because he has been spotted, doesn't mean he will be extradited to India", Kumar further said.

The revelation comes a day after Modi's 30,000 sq ft seaside mansion at Kihim beach in Maharashtra was demolished by authorities using explosives. The business is close to his home and was incorporated last May.

The Home Office have been contacted for comment. "It is not clear why the British government has given him a national insurance number and yet has apparently failed to act on the Interpol red notice".

A source told the the United Kingdom daily that Modi had been given a National Insurance number by the Department for Work and Pensions, meaning he can legally work in Britain, and has used British bank accounts.

The tycoon continued to remain at large even after Interpol issued a red notice for his arrest on the request of the Indian authorities in July 2018.