Archive · 1 Oct 2026
Nirav Modi Loses Fight Over £3.75m London Flat
Nirav Modi is an Indian businessman accused of helping carry out a very large bank fraud.
He owns or is linked to a luxury apartment in London through a trust.
A court has now allowed the apartment to be sold for at least £3.75 million.
The money will be kept safely after the trust pays its urgent debts.
Modi argued that he should be treated as a beneficiary of the trust.
The judge did not accept his objections.
Modi is also fighting efforts to send him from Britain to India.
He watched the hearing by video from prison.
A reported new asylum claim could delay the extradition process further.
The High Court approved the sale of 103 Marathon House for a minimum of £3.75 million.
Proceeds will be placed in a secure account after the property trust pays pressing liabilities.
Nirav Modi argued he was the trust’s true settler and should benefit from the property.
The court rejected his objections, saying the trustee’s decision was one it could properly make.
Modi remains in a London prison while pursuing legal efforts against extradition to India.
- Who
- Nirav Modi, the Trident Trust Company (Singapore) Pte Limited, and India’s Enforcement Directorate are central to the case.
- What
- The High Court approved the sale of a London apartment linked to Modi for a minimum of £3.75 million.
- When
- The ruling was given on Tuesday the 29th; the articles also refer to Modi’s arrest in March 2019 and a prior sale order in 2023.
- Where
- The property is at 103 Marathon House in central London, and Modi watched the hearing from HMP Wandsworth.
- Why
- The sale follows legal action by India’s Enforcement Directorate to recover or secure assets linked to the alleged Punjab National Bank fraud.
Asset Recovery and Sale
Nirav Modi’s Objections
Who should control the property
Asset Recovery and Sale
India’s Enforcement Directorate and the trustee support proceeding with the sale so the asset and its proceeds remain secured while the wider case continues.
Nirav Modi’s Objections
Modi argued that he was the trust’s true settler and should be treated as a beneficiary entitled to benefit from the property.
Effect of the ruling
Asset Recovery and Sale
The court said debts should be paid and approved the sale, allowing the trustee to proceed at a minimum price of £3.75 million.
Nirav Modi’s Objections
The ruling removes another asset linked to Modi and rejects his complaints about how the trustee reached its decision.
- Property
- 103 Marathon House, central London
- Minimum sale price
- £3.75 million
- Trustee
- Trident Trust Company (Singapore) Pte Limited
- Alleged fraud
- A reported $2 billion fraud involving Punjab National Bank
- Arrest
- Modi was arrested in Britain in March 2019
- Current detention
- He is being held at HMP Wandsworth
- Court ruling
- The High Court approved the sale and rejected Modi’s objections