New Delhi: The UK government has confirmed that Indian billionaire and ‘Diamond King’ Nirav Modi is currently in London.

According to sources, the British authorities have claimed that Modi is living there and the government is working on India’s extradition request. The UK authorities have replied to India via email on Sunday.

Nirav Modi, the business tycoon-turned-fugitive, is an accused in the Rs 13,500 crore Punjab National Bank (PNB) fraud, along with his uncle Mehul Choksi.

"This is a good sign as the Indian government, via diplomatic channels, has sent a request to which the UK government has positively reacted. Hopefully, the British authorities will hand over Nirav Modi to India," a senior government official said.

An official of the Ministry of Home Affairs said, "We will process another request on Monday for the extradition of Modi". Various investigating agencies are trying hard to catch Modi who fled from the country after he extracted crores in loans from banks abroad on the basis of fake guarantees in the name of PNB.

Earlier on August 2, Minister of State for External Affairs VK Singh informed the Parliament that the government had sent a request to the UK for extraditing Nirav Modi.

On July 2, the International Criminal Police Organization (Interpol) had issued a Red Corner Notice (RCN) against Nirav Modi under ‘money laundering charges’, levelled by the Enforcement Directorate (ED) in the RCN.

Nirav Modi and Mehul Choksi are both facing charges registered by the CBI and the ED.

The ED, on May 24 and May 26, had filed charge sheets against the duo and the court has taken the charge sheets into account and issued non-bailable warrants against the two.