Nirav Deepak Modi's new bail appeal was denied by the High Court of Justice, King's Bench Division, London, on Thursday, in a landmark decision. Modi has been imprisoned in the United Kingdom since March 19, 2019.
He is wanted in India for his role in the Rs 6,498. 20 crore Punjab National Bank scam.
Nirav Deepak Modi's new bail application was denied by the High Court of Justice, King's Bench Division in London, according to a press statement released on Thursday by the Central Bureau of Investigation (CBI). The Crown Prosecution Service lawyer bitterly opposed the bail application, with the help of a powerful CBI squad of investigating and law officers who traveled to London for the goal.
The Central Bureau of Investigation (CBI) effectively defended the reasons that led to the denial of bail. Nirav Deepak Modi has been detained in a UK jail since March 19, 2019. Neerav Modi is a fugitive economic offender who is wanted for prosecution in India in connection with a CBI bank fraud case involving the defrauding of Punjab National Bank for Rs. 6498. 20 crore, according to the release.
The CBI further stated that the UK High Court has already approved his extradition to the Indian government. This is his tenth bail request since his detention in the United Kingdom, which the CBI successfully opposed via the Crown Prosecution Service in London, according to the agency.
Nirav Modi, along with his uncle Mehul Choksi, is the key suspect in the PNB scam. India has been working for his extradition since his arrest by British authorities in London in March 2019.
In 2018, the Enforcement Directorate (ED) filed a Prevention of Money Laundering Act (PMLA) case against Nirav Modi, Mehul Choksi, and others in connection with the Punjab National Bank (PNB) scam.
During the inquiry, multiple searches were performed, resulting in the confiscation of diamonds, gold, pearls, and precious and semiprecious stones.
In December 2022, Nirav Modi's plea to appeal to the United Kingdom Supreme Court against his extradition to India on allegations of fraud and money laundering was denied.
The jeweler departed India in 2018, before evidence of his role in a massive scam at the Punjab National Bank became known.
