Nirav Modi, the accused in a multi-billion dollar fraud at Punjab National Bank (PNB), has repeatedly attempted to secure bail in the UK's judicial system, but without success. The UK High Court has rejected his bail application for the tenth time.
London: Nirav Modi, the prime accused in the Punjab National Bank (PNB) scam and a declared economic offender, has again suffered a setback in a British court. The UK High Court in London has dismissed Modi's tenth bail application. Modi has been imprisoned in the UK since 2019, and the Indian government has been fighting a legal battle for his extradition. This court decision further strengthens the extradition process.
Ten Attempts, Ten Failures
Nirav Modi has filed ten bail applications, all unsuccessful. The court has repeatedly acknowledged the risk of Modi fleeing the country and tampering with evidence. This time, the King's Bench Division in London, while rejecting his bail plea, clarified that the existing evidence against him and the documents submitted by the Indian government confirm that he is guilty of a serious crime and could evade the judicial process if granted bail.
CBI and ED Arguments Prove Effective
In this hearing, India's Central Bureau of Investigation (CBI) presented a b case. The CBI argued that solid evidence exists against Nirav Modi and granting him bail would jeopardize the judicial process. Meanwhile, the Enforcement Directorate (ED) had previously informed the court that a case under the Prevention of Money Laundering Act (PMLA) had been registered against Modi, with clear evidence of money laundering and defrauding banks using forged documents.
Imprisoned Since 2019, Extradition Path Opens
Nirav Modi was arrested in London in March 2019 and has been held at Wandsworth Prison since. The Indian government had formally requested his extradition from the UK, a request the UK court had already approved. However, Modi challenged that decision in the Supreme Court, which was dismissed in December 2022. This leaves him with very limited legal options.
6,498 Crore Rupees – India's Largest Banking Scam
Nirav Modi and his uncle Mehul Choksi are accused in one of India's largest banking scams. They are accused of defrauding Punjab National Bank (PNB) of ₹6,498.20 crore by obtaining loans from foreign banks through fraudulent Letters of Undertaking (LOUs). Both subsequently fled the country. While Choksi has obtained citizenship in Antigua, Modi was arrested in London.
Significant Relief for the Indian Government
The tenth rejection of Nirav Modi's bail application is considered a major diplomatic and legal victory for the Indian government. It indicates that British courts trust the Indian judicial system and have no serious objections to extradition. Nirav Modi has few remaining options to prevent his extradition.
Unless a new legal challenge is mounted, he could be brought back to India in the coming months. The Indian government, through the Ministry of External Affairs and investigative agencies, is fully prepared for this eventuality.
