Nirav Modi's bail application rejected by London court

NEW DELHI: The London Court on Friday extended the custody of Nirav Modi to May 24, dealing yet another blow to the fugitive diamond merchant. Modi, accused of defrauding PNB of more than Rs 13,000 crore, will remain in jail till then. He will appear through video conferencing on May 24, the day the court will hold a brief hearing, the Judge indicated.

An elaborate hearing on Modi’s case will be held on May 30. The Westminster Magistrate’s Court had twice denied bail to the diamond merchant, but he can appeal to the High Court to seek bail.

On March 20, the Magistrate’s Court had taken stock of serious allegations levelled by the Indian investigative agencies through the Crown Prosecution Service. Opposing bail to Modi, the Crown Prosecution, on March 20, had told the UK Court that he had threatened a former employee, a witness in the bank fraud case, with dire consequences if he revealed any information.


The Prosecution also claimed that Modi had initially offered ?2 million to the witness, Ashish, a director of one of group companies owned by Modi. When the witness refused to accept the money, Modi threatened to kill him, the prosecution alleged. Friday’s hearing in Westminster Magistrate’s Court lasted for barely a minute. It was a procedural remand hearing, a hearing held after 28 days for an accused in custody.