Fugitive Indian jeweller Nirav Modi’s bail plea has been denied by the court in London. The court claims that there are "substantial grounds" to believe that he would fail to surrender if granted bail.
Nirav Modi is the prime accused in the $2 billion Punjab National Bank (PNB) scam case, and his arrest came days after a London court had issued an arrest warrant against him, reverting to an appeal by the Enforcement Directorate (ED) for his deportation in the money laundering case. He was, henceforth, produced before the Westminster Magistrates' Court on Wednesday, where he contested his extradition to India.
Indian authorities’ representative the Crown Prosecution Service (CPS) communicated to the court that Nirav Modi was wanted in India for money laundering and fraud which amounted to the tune of $2 billion, reports News 18.
"We do object to bail because there are substantial grounds to believe the requested person (Nirav Modi) would fail to surrender," said Barrister Jonathan Swain who appears for the CPS and on behalf of the Government of India. He will be in jail until 29 March.
Comments ↓
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.
