New Delhi: Fugitive diamantaire Nirav Modi, who was arrested in London on Wednesday in connection to Rs 13,000 crore loan fraud, presented payslips in a UK court of Rs 18 lakh (per month)- claiming that he is working for a private firm in the United Kingdom. Also Read - Nirav Modi's Extradition Approved by UK Home Minister Ahead of Boris Johnson's India Visit

He further also shared his National Insurance (NI) number as proof that he was also duly paying his taxes. Also Read - Mumbai's Arthur Road Jail Awaits Nirav Modi, Keeps Special Cell Barrack Number 12 Ready

Produced before the Westminister Magistrates’ Court, Modi on Wednesday contested his extradition to India. His bail plea was turned down by the district judge, who noted that she was not inclined to accept his plea due to the’ high value amount’ attached in the case. Also Read - PNB Scam Case: After Nirav Modi Loses Legal Fight, India Says Will Liaise With UK For His Early Extradition | Key Points

A news18 report quoted District Judge Marie Mallon, “There are substantial grounds to believed that you would fail to surrender before the court if bail were to be granted.”

The arrest of embattled businessman Modi came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.

On Wednesday, a court in the UK, remanded him in custody till March 29.

Nirav Modi and his uncle, Mehul Choksi, are the main accused in the Punjab National Bank scam and they both left India before the details of the fraud came to light in January 2018.

Modi is one of India’s richest men, worth an estimated USD 1.75 billion, according to Forbes. He launched his own eponymous brand in 2010 and he soon had stores across India, as well as in New York, London and Hong Kong.

India welcomed the arrest of bank fraud accused Nirav Modi by British authorities in London, and said it was engaged with the UK for his extradition at the earliest.

Ministry of External Affairs (MEA) Spokesperson Raveesh Kumar said India continued to actively follow up with the UK the case of Modi’s extradition to India.

“We welcome the fact that Nirav Modi has been arrested by the United Kingdom authorities pursuant to the arrest warrant issued by the Westminster Magistrate Court,” Kumar said.

“Government of India continues to actively follow up this matter with the authorities concerned in the UK, with a view to have Nirav Modi extradited to India at the earliest,” he added.