London: A British court has for the seventh time rejected the bail plea of fugitive Indian businessman Nirav Modi. Nirav Modi is accused of fraud and money laundering of a loan of two billion dollars (over Rs. 14 thousand crores) from Punjab National Bank (PNB) in India and has been declared a fugitive. He had challenged his extradition order in Bitten’s court. Nirav Modi is currently lodged in a jail in southwest London. The case was filed by two investigating agencies of India, the Central Bureau of Investigation and the Directorate of Vigilance. It is alleged that Modi took a loan from the banks by showing a fake consent letter of the Indian bank and manipulated that money.
Earlier this month, a UK court extended the ongoing extradition hearing until November 3. Last month, Modi’s lawyer told a UK court that due to the politicization of the case, Nirav Modi was unlikely to have a fair trial in India and that he was facing a ‘high risk of suicide’ due to lack of adequate medical facilities in Indian jails Can cope.
Nirav Modi was arrested by the London police on March 19 and has been lodged in London’s Wandsworth Jail ever since. Interpol had issued a red corner notice against Nirav Modi. Under this, 192 countries were asked that if Nirav Modi is with them, he should be arrested and extradited to India. He had fled India a few months before the PNB scam came to light in the year 2018. Nirav Modi’s name has also appeared in the list of rich people of Forbes. In the year 2013, the name of Nirav Modi first appeared in the Forbes list.
