WEB DESK
A UK court has rejected the bail plea of fugitive businessman Nirav Modi, saying he continued to pose a substantial risk of absconding justice. Nirav Modi, who has been in prison in London for over five years, made a new bail application yesterday.
Declared a fugitive economic offender in December 2019, Nirav Modi and his uncle Mehul Choksi are accused of committing a 14,000 crore rupee scam by obtaining credit facilities fraudulently from the Punjab National Bank and are wanted in India.
The 52-year-old diamond merchant, who lost his extradition battle to face fraud and money laundering charges in India, did not appear for the bail hearing at Westminster Magistrates Court in London, but his son and two daughters were present on his behalf. A joint Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) team had arrived from India for the hearing and followed the proceedings in court.