New Delhi [India]: In a significant legal victory for Indian authorities, the High Court of Justice, King’s Bench Division in London on Thursday rejected the latest bail petition filed by fugitive diamantaire Nirav Deepak Modi, who is wanted in India for his role in the ₹6,498.20 crore Punjab National Bank (PNB) fraud case.
Nirav Modi, detained in the UK since March 19, 2019, had filed his 10th bail plea, which was strongly opposed by the Crown Prosecution Service (CPS) representing the Indian government, with support from a Central Bureau of Investigation (CBI) legal team that traveled to London for the proceedings.
“Fresh Bail Petition filed by Nirav Deepak Modi was rejected today… The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team,” the CBI stated in a press release.
The CBI emphasized that the rejection of bail underscores the strength of India’s case against Nirav Modi and its persistent efforts toward his extradition, which has already been approved by the UK High Court.
“This is his 10th bail petition since his detention in UK, which was successfully defended by CBI through Crown Prosecution Service, London,” the agency added.
Background on the Case:
- Nirav Modi and his uncle Mehul Choksi are the key accused in the multi-crore PNB scam, which surfaced in early 2018.
- The Enforcement Directorate (ED) had booked them under the Prevention of Money Laundering Act (PMLA) in 2018.
- During its probe, ED seized a massive quantity of diamonds, gold, pearls, and precious stones linked to the accused.
- Modi had fled India in 2018, just before the scandal became public.
In December 2022, the UK courts also rejected Modi’s plea to appeal his extradition in the UK Supreme Court, further tightening the legal noose around him.
Indian authorities have reiterated that they are actively working to bring Nirav Modi back to face trial in India.