London High Court Rejects PNB Scam Accused Nirav Modi’s 10th Bail Plea; Extradition Case Moves Forward

Nirav Modi Bail Plea: The High Court of Justice, King’s Bench Division, lately rejected but any other bail petition filed by way of Nirav Deepak Modi, the fugitive Indian diamantaire sought after in a high-profile PNB fraud case. This marks the 10th unsuccessful try by way of Modi to protected bail since his arrest within the United Kingdom in March 2019.

The Central Bureau of Investigation (CBI) showed the advance, declaring that the bail plea used to be vigorously antagonistic by way of the Crown Prosecution Service (CPS) in London, with sturdy criminal backing from a CBI staff comprising investigating and criminal officials who had travelled to the United Kingdom for the listening to.

Nirav Modi has been incarcerated in a UK jail since March 19, 2019, pending extradition to India the place he faces trial for defrauding Punjab National Bank (PNB) of Rs 6,498.20 crore. He has been formally declared a fugitive financial culprit by way of Indian government.

The CBI famous that the United Kingdom High Court has already authorized Modi’s extradition in favour of the Government of India, a big milestone within the years-long criminal combat to deliver him again to stand fees.

“It may be recalled that Neerav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case of CBI for defrauding Punjab National Bank for Rs. 6498.20 crore. His extradition has already been approved by the High Court of the UK in favour of the Government of India. This is his 10th bail petition since his detention in UK which was successfully defended by CBI through Crown Prosecution Service, London,” stated the Central Bureau of Investigation.

Nirav Modi and his uncle Mehul Choksi are the primary accused within the PNB rip-off. The Enforcement Directorate (ED) had in 2018 registered a Prevention of Money Laundering Act (PMLA) case in opposition to Nirav Modi, Mehul Choksi and others within the Punjab National Bank (PNB) fraud case. During the investigation, a number of searches have been performed which resulted in the seizure of diamonds, gold, pearls and valuable and semi-precious stones.