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Nirav Modi’s seventh bail plea rejected by UK court

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A court in London on Monday rejected the bail plea of fugitive fraudster Nirav Modi. It was the seventh rejection by courts of the United Kingdom. Nirav Modi is lodged in a London prison since his arrest on an extradition warrant in March last year.

Diamantaire Nirav Modi is wanted in India in connection with the Rs 13,000 crore Punjab National Bank fraud perpetrated by him and his uncle Mehul Choksi.

In the Rs 13,000 crore fraud, Modi’s companies are accused of siphoning off Rs 6,498 crore of public funds by bribing to manipulate the issuance of Letters of Undertaking issued by Brady House branch of the public sector bank.

This time, the bail application was reportedly made on the basis of “new evidence”, but Westminster Magistrates’ Court District Judge Samuel Goozee was not convinced to reverse previous bail rejections in Nirav Modi’s case.

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Nirav Modi has till now made around six previous attempts at bail—at the magistrates’ court as well as at the high court level.

However, each of the applications, which came with an offer of stringent conditions akin to house arrest and a bail bond security of 4 million pounds, has been rejected each time as he has been deemed to have the financial means and motivation to abscond.

Excellent coordination between India & the UK

“The repeated rejection of bail application is a result of excellent coordination among the CBI, the Ministry of External Affairs and Crown Prosecution Service of the United Kingdom,” a senior CBI official said in New Delhi, commenting on Monday’s development.

Nirav Modi’s legal team had offered a package of measures, which included a 24-hour electronic tag as well as a private security guard service and strictly-monitored access to gadgets and telephones.

The court has also repeatedly been told of Modi’s fragile mental health and that his psychological condition was “deteriorating with the ever-increasing detention”.

 

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