India scores major legal win as London’s High Court of Justice denies Nirav Modi’s fresh bail request; extradition to India remains imminent.
New Delhi, May 16:
In a major breakthrough in India’s efforts to bring fugitive diamantaire Nirav Modi to justice, the High Court of Justice, King’s Bench Division in London, on Thursday rejected his 10th bail petition. Modi, who has been held in a UK prison since March 19, 2019, is the prime accused in the massive ₹6,498.20 crore Punjab National Bank (PNB) fraud case.
According to an official press release from the Central Bureau of Investigation (CBI), the bail request was strongly opposed by the Crown Prosecution Service (CPS), assisted by a high-level CBI delegation comprising investigating officers and legal experts who travelled to London for the proceedings.
“The bail arguments were vigorously contested, and the CBI successfully defended the case, leading to the rejection of Nirav Modi’s bail plea,” the agency stated.
Nirav Modi has been fighting extradition to India where he faces trial under charges of criminal conspiracy, cheating, corruption, breach of trust, and money laundering. The UK High Court had already approved his extradition in December 2022, and Thursday’s decision further paves the way for his return.
This marks the 10th unsuccessful bail attempt by Modi since his detention in the UK. The CBI emphasized that Nirav Modi has been officially declared a fugitive economic offender, with his extradition being sought in connection to the PNB fraud investigated under the Prevention of Money Laundering Act (PMLA).
The Enforcement Directorate (ED), which filed the PMLA case in 2018 against Nirav Modi, his uncle Mehul Choksi, and others, had conducted multiple raids leading to the seizure of high-value diamonds, gold, pearls, and precious stones.
Modi fled India in early 2018 just before his involvement in the PNB scam became public. Despite a long legal battle in UK courts, the Indian authorities have remained steadfast in their pursuit of justice.
As extradition proceedings near conclusion, Indian agencies are now preparing for Nirav Modi’s eventual return to face trial on Indian soil.