The London High Court ruled that Nirav Modi faces serious charges with substantial evidence and noted concerns over potential witness interference and destruction of evidence.
London | May 23, 2025
Fugitive diamond trader Nirav Modi has been denied bail for the 10th time by the UK High Court, with the judge citing a high risk of absconding and a strong prima facie case against him. Justice Michael Fordham, presiding at the Royal Courts of Justice, rejected Modi’s latest plea on May 15, reaffirming the courts’ earlier assessments of the seriousness of the charges.
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“UK courts have twice concluded that there is an evidenced prima facie case against the applicant,” Justice Fordham stated.
The 54-year-old businessman, wanted in India for his alleged role in the ₹13,800 crore Punjab National Bank fraud, has been held in a UK prison since March 2019. He was declared a fugitive economic offender in India in December that year.
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Key Findings From Court Ruling:
- Modi is accused of leading a massive banking fraud, involving fraudulent Letters of Undertaking issued by PNB.
- The alleged fraud led to unauthorized transfers amounting to $1.015 billion (₹8,460 crore).
- The court expressed concern over interference with witnesses and the destruction of evidence, including a mobile phone and a computer server in Dubai in early 2018.
- These alleged acts of tampering occurred while Modi was already residing in the UK.
The judge emphasized that Modi’s extradition had already been approved and that his repeated bail petitions—now in double digits—had failed to offer convincing grounds for release.
CBI’s Statement on the Bail Rejection:
In a press release issued this week, the Central Bureau of Investigation (CBI) confirmed the court’s decision and reiterated that Modi remains in custody at a UK prison.
“The bail arguments were strongly opposed by the Crown Prosecution Service advocate, ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose,” the agency said.
The CBI noted that Nirav Modi is “wanted for trial in India in a bank fraud case” and called the High Court’s ruling a significant development in their efforts to bring him back to face justice.
Background:
- Modi was arrested in March 2019 by British authorities in response to an extradition request from India.
- He has since exhausted multiple legal avenues to contest his extradition, including a failed appeal to the UK Supreme Court in December 2022.
- The Enforcement Directorate (ED) has also registered a PMLA case and seized multiple assets connected to Modi and his uncle Mehul Choksi.
With this latest ruling, Modi remains in detention as Indian authorities continue to push for the final stages of his extradition process.
Tags:
Nirav Modi, UK High Court, extradition case, PNB fraud, CBI, Enforcement Directorate, economic offences, Justice Michael Fordham, London court, fugitive economic offender, Mehul Choksi, India-UK legal