A UK court Wednesday denied bail to Nirav Modi for the third time, saying the fugitive diamond merchant who is the main accused in the Punjab National Bank fraud and money laundering case amounting to up to USD 2 billion would fail to surrender.
Fugitive diamond merchant Nirav Modi would make another bail plea on May 8 at the UK court where he is undergoing extradition proceedings to India in the USD 1-billion Punjab National Bank (PNB) fraud and money laundering case.
Twelve luxury cars belonging to absconding diamantaires Nirav Modi and his uncle Mehul Choksi have been auctioned for Rs 3.29 crore, an ED statement said here on Friday.
A London court has rejected bail plea of Nirav Modi - the prime accused Rs 13000 bank scam in India.
Modi 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.
Thirteen luxury cars owned by fugitive diamantaires Nirav Modi and his uncle Mehul Choksi went on online auction by the Metals & Scrap Trading Corporation, here on Thursday.
When all Yadavs can be called relatives, then why cannot all Modis be called relatives, former chief minister Akhilesh Yadav asked Monday, referring to the same last name shared by economic offender Nirav Modi and Prime Minister Narendra Modi.
There was some light-hearted moments during the second bail plea hearing of Nirav Modi at the UK court when Judge Emma Arbuthnot asked the prosecution whether the fugitive diamond trader would be lodged in the same jail cell along with liquor baron Vijay Mallya if he is also extradited to India.
Fugitive diamond merchant Nirav Modi failed in his second attempt to get bail in his extradition case at the Westminster Magistrates' Court here despite his defence team trying hard to establish his close ties to the UK, including having to care for a pet dog.
Rejecting Modi's bail plea after hearing both defence and prosecution, Judge Arbuthnot said his attempt to try and seek citizenship of Vanuatu, a remote island country located in the South Pacific Ocean, shows he was trying to move away from India
Rejecting Modi's bail plea after hearing both defence and prosecution, Judge Arbuthnot said his attempt to try and seek citizenship of Vanuatu, a remote island country located in the South Pacific Ocean, shows he was trying to move away from India at an important time.
Giving details of Modi's attempt to interfere with witnesses, the CPS barrister made specific reference to one such witness, Ashish Lad, who Modi "threatened to kill in a phone call" and also offered him an incentive of Rs 2 million to provide a false statement.
Auctioneers say the sale is the first of its kind in a country where tax authorities have usually auctioned property, gold and luxury items, but not art.
The Narendra Modi goverment has succeeded in bringing back 18 fugitive offenders, including alleged AgustaWestland deal middleman Christian Michel James, to India in the last five years and is strongly pursuing extradition cases of absconding diamantaire Nirav Modi and liquor baron Vijay Mallya.
Nirav Modi has fled after allegedly siphoning off about Rs 13,0000 crore from Punjab National Bank using Letters of Undertaking in collusion with his uncle Mehul Choski.
London Court issues arrest warrant against Nirav Modi
Fugitive diamantaire Nirav Modi, who is a prime accused in the Rs 14,000-crore Punjab National Bank (PNB) fraud, may soon be arrested as London's Westminster Court has issued an arrested warrant against him. The arrest warrant was issued after Enforcement Directorate's request for Nirav Modi's extradition.
The Enforcement Directorate has filed a fresh chargesheet against diamantaire Nirav Modi, an accused in the USD 2-billion PNB scam, and others under the anti-money laundering law, officials said Monday.
The External Affairs Ministry on Saturday said the government was taking all steps to extradite diamantaire Nirav Modi, accused in the USD 2 billion PNB scam, from the UK.
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