Nirav Modi's Bail Plea Rejected Third Time by UK Court

London, May 8: A London court on Wednesday extended till May 30 the judicial custody of fugitive diamantaire Nirav Modi, rejecting his bail plea for the third time. Chief Magistrate Emma Arbuthnot denied the third bail application of Nirav Modi at Westminster Magistrates' Court in London. Nirav Modi is an accused in the USD 1-billion Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old, who has been behind bars at Wandsworth prison in south-west London since his two previous bail applications were rejected following his arrest on March 19, made his third attempt on May 7 to get a bail. During the hearing, Modi was represented by Clare Montgomery of Matrix Chambers. Barrister Nick Hearn from Furnival Chambers represented the Crown Prosecution Service (CPS). Nirav Modi's 13 Cars Put on Auction in Mumbai by ED, Rolls Royce Among Them.

At the last hearing in the case on April 26, when Modi had appeared before Judge Arbuthnot via video link from prison, his legal team had made no application for bail and he was further remanded in judicial custody until May 24. His two previous bail pleas were rejected by Arbuthnot on the grounds that there was a “substantial risk he would fail to surrender”. Arbuthnot is the same judge who ordered the extradition of Vijay Mallya last December. Nirav Modi's Extradition Hearing To Begin After May 30. 

Earlier, Modi’s legal team, including solicitor Anand Doobay and barrister Clare Montgomery, had offered 1 million pounds as security alongside an offer to meet stringent electronic tag restrictions on their client’s movements, "akin to house arrest". Modi was arrested by uniformed Scotland Yard officers in central London on March 19.

(The above story first appeared on LatestLY on May 08, 2019 09:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).