Fri. Jun 2nd, 2023

Nirav Modi custody extended by a court in London

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New Delhi/London, May.30 (HS): A court in London has extended the custody of fugitive diamond businessman Nirav Modi till June 27. Modi was arrested in London on March 19 for allegedly duping India’s Punjab National Bank of over Rs 13,500 crore. Modi’s arrest had come days after an arrest warrant was issued by authorities in London. He has been imprisoned at the Wandsworth jail in London. Meanwhile, it is the third attempt of Nirav Modi for seeking bail but was rejected every occasion by Westminster Magistrates’ Court.

Today, he was produced before Chief Magistrate Emma Arbuthnot at the Westminster court for a first case management hearing. The judge, however, remanded him to custody till June 27. The judge also asked the Indian government to provide information on the prison where he will be lodged if he is extradited. A team of the Enforcement Directorate was seen outside the court today, according to media reports.
During the hearings, the Indian government had told the court that Modi was the “principal beneficiary” of the fraudulent of letters of undertaking as part of a conspiracy to defraud PNB and then laundering the proceeds of crime.