On February 15, 2018, the ED had registered a money laundering case against Nirav Modi and others under the provisions of the PMLA on the basis of an FIR registered by the Central Bureau of Investigation.
Media reports suggest that even absconding jeweller Nirav Modi, named in the Rs 13,000 crore fraud at Punjab National Bank (PNB) that came to light recently, is seeking political asylum in the UK. The "CBI has no confirmation yet about Nirav Modi's whereabouts", an official said.
Modi is also accused of defrauding The Bank of India (BoI).
His high-end eponymous brand has stores in several of the world's major cities and boasts celebrity customers including actresses Naomi Watts and Kate Winslet and Bollywood megastar Priyanka Chopra.
Britain's Home Office said it does not provide information on individual cases, while Modi could not be contacted by Reuters for comment.
Nirav Modi, the billionaire jeweller allegedly at the heart of a $US2.2 billion ($A2.9 billion) fraud case in India, is believed to have fled to the UK.
Nirav Modi, the billionaire jeweller at the heart of an alleged Rs 13,000-crore-plus bank fraud, is said to have fled to the United Kingdom and claimed political asylum there.
This figure is said to be just a part of the total losses.
Indian police issued a warrant for the billionaire diamond trader's arrest.
India's government is trying to reduce the crippling debts of the country's embattled state banks, including PNB.
Last month PNB posted the largest ever quarterly loss for an Indian lender - 134.17 billion rupees - largely because it had to set aside funds to pay other banks over the scam.
India is already seeking the extradition of Vijay Mallya, a liquor and aviation tycoon, over unpaid loans to his defunct Kingfisher Airlines after the businessman and co-owner of the Formula One Force India team moved to Britain in March a year ago. The case has soured British-Indian relations. The issue of the final signing of the memorandum of understanding on illegal immigrants was raised by UK Minister of State for Countering Extremism Baroness Williams during her talks with Union Minister of State for Home Kiren Rijiju on Monday.