The Ministry of External Affairs (MEA) also acknowledged that India is aware of Modi's presence in London and is taking all necessary steps for his extradition.
The 48-year-old reportedly came to United Kingdom in early 2018 while his uncle Mehul Choksi, also wanted in the PNB scam, sought refuge in Antigua.
Nirav, the report revealed, takes a daily walk from his home to the office with his dog.
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Ministry spokesperson Raveesh Kumar stated this during his press briefing, soon after British publication The Telegraph released a video of Modi walking around in London. His appearance differed from previous media records. Sporting a beard, a pink shirt and what the newspaper described as an "ostrich leather" jacket, Modi was confronted by a reporter.
Modi, 48, is now living in a three-bedroom flat occupying half of a floor of the landmark Centre Point tower block, where rent is estimated to cost 17,000 pounds a month, The Telegraph reported.
In the Telegraph video interview, taken as he is leaving his Soho office, Modi replies "Sorry no comment" when the Telegraph reporter asks him if he has got political asylum in the United Kingdom and repeats this when asked, if he is the subject of an extradition request and whether he is still trading in diamonds. The rent for a property like this is thought to be about £17,000 a month, while the paper pegged the price of the flat at £8 million.
According to The Telegraph, Nirav is now involved in a new diamond business run from an office in Soho, a few hundred yards from his new flat in West End.
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Many commented on the gender dynamic they felt was on display in the photograph, and throughout the interview . However, he made it clear that regardless of the "old rumors, new rumors, future rumors", it's all "not true".
A diamond jeweller whose designs have been worn by Hollywood stars, the 48-year-old went on the run after being accused of defrauding about two billion dollars from the state-run Punjab National Bank, in what became the biggest banking fraud case in India's history.
The expose by the British newspaper, The Daily Telegraph, that fugitive diamantaire Nirav Modi was hiding in plain sight in London kicked off a political furore in New Delhi with the Congress accusing the Narendra Modi government of running a "resettlement programme for fraudsters" and the BJP responding by pointing out that the Non-Performing Assets (NPA) problem was a UPA legacy.
The ED has till date attached properties worth Rs 4,765 crore of Choksi and Nirav Modi.
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