Home »  Website »  Business »  UK Court Denies Bail To Nirav Modi For Third Time, To Remain In Custody Till May 24

UK Court Denies Bail To Nirav Modi For Third Time, To Remain In Custody Till May 24

The very brief hearing ended with judge further remanding Modi till May 24. She scheduled a full hearing on May 30.

UK Court Denies Bail To Nirav Modi For Third Time, To Remain In Custody Till May 24
Fugitive Nirav Modi denied bail for the third time by the UK court.
UK Court Denies Bail To Nirav Modi For Third Time, To Remain In Custody Till May 24
outlookindia.com
2019-04-26T15:47:02+0530

A UK court on Friday further remanded till May 24 fugitive diamond merchant Nirav Modi who is undergoing extradition proceedings in Britain 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 arrest last month, appeared before Westminster Magistrates’ Court Chief Magistrate Emma Arbuthnot via video link from the jail.

The very brief hearing ended with judge further remanding Modi till May 24. She scheduled a full hearing on May 30.

Modi's bail was rejected by Chief Magistrate Arbuthnot on March 29 on the grounds that there was a "substantial risk he would fail to surrender".

He is believed to have been living in the UK on an Investor Visa, applied for in 2015 – at a time when the so-called “golden visa” route was relatively easier for super-rich individuals to acquire residency rights in the UK based on a minimum of 2-million pound investment.

He was arrested by uniformed Scotland Yard officers on March 19. During his first court appearance a day later, it emerged that the diamantaire accused of defrauding PNB via fraudulent Letters of Undertaking (LoUs) had been in possession of multiple passports since revoked by the Indian authorities.

(PTI)

Post a Comment


You are not logged in, To comment please / Register
or use
Next Story : Old Honda Accords Recalled For Driver Airbag Replacement
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS



Advertisement

OUTLOOK TOPICS :

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9

or just type initial letters