UK court dismisses Nirav Modi's bail plea
May 07, 2024
London/New Delhi, May 7 : The bail plea of fugitive businessman Nirav Modi, who is the main accused in the PNB scam case, has been rejected by a UK court and he continues to be in detention, ED sources said.
They said that Nirav Modi filed a bail application on April 16 for the fifth time before the Westminster Magistrate's Court in the UK citing long incarceration, but it was dismissed during the hearing on Tuesday.
India has been working for extradition of Nirav Modi, who was arrested in March 2019 by British authorities in London. An arrest warrant against him was issued following a request by the Enforcement Directorate for his extradition in the money laundering case.
Nirav Modi and his uncle Mehul Choksi are the main accused in the PNB scam.
The Enforcement Directorate (ED) had in 2018 registered a Prevention of Money Laundering Act (PMLA) case against Nirav Modi, Mehul Choksi and others in the Punjab National Bank (PNB) fraud case.
During the investigation, several searches were conducted which led to the seizure of diamonds, gold, pearls and precious and semi-precious stones.
In December 2022, Nirav Modi lost his plea to move the UK Supreme Court against his extradition to India on charges of fraud and money laundering.
The diamantaire had fled India in 2018 before details of his "involvement in large-scale fraud" at the Punjab National Bank became public.
