New Delhi, Aug 20 (DC): The United Kingdom has confirmed the presence of fugitive billionaire Nirav Modi is its territory. The Central Bureau of Investigation (CBI) has moved a request to London to extradite the celebrity diamantaire, who is wanted for loan fraud in India.

Nirav Modi along with his kin, including his uncle Mehul Choksi fled India at the beginning of this year, weeks before their involvement in the Rs 13,500 crore Punjab National Bank (PNB) scam came to the fore.

The scam, which reportedly began in 2011, was detected in January 2018, after which PNB officials reported it to the probe agencies.

Nirav Modi and his uncle Mehul Choksi are being sought by multiple investigating agencies after reports that the duo have extracted crores in loans from banks abroad on the basis of fake guarantees in the name of PNB, India's second largest state-owned bank.

In July 2018, the Interpol had issued a Red Corner Notice against Nirav Modi after the CBI had approached Interpol.

Earlier in August, the government had informed parliament that an extradition request for Nirav Modi had been sent to the Indian mission in UK.

The request has been sent by a Special Diplomatic Bag to the High Commission of India in London, Minister of State for External Affairs VK Singh had said in parliament.

India had cancelled the passports of both Nirav Modi and Mehul Choksi in February.

Nirav Modi is the 29th fugitive India has asked the UK to extradite since 2002. The government in UK has rejected India's request nine times in the last 16 years.

A case for extradition of Vijay Mallya is still being heard by a court in Britain.