The London High Court has rejected Nirav Modi’s 10th bail plea, citing a high risk that he would abscond if released.
London: The London High Court has once again rejected the bail plea of fugitive diamond trader Nirav Modi, stating that he is likely to run away if released.
The 54-year-old businessman, accused in the massive Punjab National Bank (PNB) fraud case of over Rs.13,800 crore, has now had his 10th bail plea dismissed since his arrest in the United Kingdom in 2019.
Delivering the judgment on May 15, Justice Michael Fordham of the Royal Courts of Justice made it clear that the UK courts have already concluded that there is a strong case against Nirav Modi.
“And I repeat, after careful evaluation, UK courts have twice concluded that there is an evidenced prima facie case against the applicant,” Justice Fordham said while denying him bail.
Nirav Modi has been declared a fugitive economic offender by Indian authorities in December 2019. The UK court observed that he is wanted in India to face serious charges of economic crimes. These charges include allegedly cheating the Punjab National Bank by fraudulently obtaining Letters of Undertaking (LoUs), which were then used to get money from foreign banks.
According to the UK High Court, “Nirav Modi is wanted for trial in India for matters of ‘very great seriousness and substance’ relating to allegations of economic crime, in which he is said to have been the principal perpetrator.”
The court noted that he played the main role in a scheme where fraudulent documents were used to siphon large sums of money out of the country.
ALSO READ: “Vijay Mallya, Nirav Modi, Mehul Choksi Fled India Due to Delayed Arrests”: Mumbai Court
The UK High Court confirmed that a prima facie case has been established based on the evidence presented. This is not the first time the court has examined the charges.
“The Courts, in the context of the Applicant’s extradition, have on two occasions assessed the underlying evidence being relied on against the bail applicant. On each occasion, the court has been satisfied that there is a prima facie case,” Justice Fordham explained.
The court further examined claims that Nirav Modi had tampered with evidence and attempted to interfere with witnesses.
Referring to past incidents, Justice Fordham stated, “Part of what is alleged is that he was criminally responsible for actions in which witnesses were interfered with and evidence was destroyed.”
Additionally, the judge mentioned another serious allegation: “Also said to have been destroyed was evidence on a computer server in Dubai in February 2018. All of that would have taken place at the time when the Applicant was here in the UK.”
During previous court proceedings related to his extradition, Modi’s legal team had claimed there was a legitimate explanation for the money transfers.
However, the court noted, “The central points put forward on the applicant’s behalf in the earlier extradition proceedings were, that there was a good and lawful explanation for the transfer of the monies to the relevant entities who received those monies; rather than any denial that the monies were transferred,” the judge mentioned in the May 15 order.
He added that “The amounts alleged to have been transferred, induced by the fraud, come to an aggregate amount of 1,015.35 million US dollars.”
The Central Bureau of Investigation (CBI) of India issued a press release soon after the judgment, confirming the outcome.
“Fresh Bail Petition filed by Nirav Deepak Modi was rejected by the High Court of Justice, King’s Bench Division, London. The bail arguments were strongly opposed by the Crown Prosecution Service advocate, who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose.”
The CBI appreciated the court’s decision and stated,
“Central Bureau of Investigation (CBI) could successfully defend the arguments which resulted in rejection of the bail. Nirav Deepak Modi is in UK prison since 19th March 2019. It may be recalled that Nirav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case of the CBI for defrauding Punjab National Bank for Rs 6,498.20 crore.”
Further, the agency added,
“This is his 10th bail petition since his detention in UK, which was successfully defended by CBI through Crown Prosecution Service, London.”
Nirav Modi was arrested in London in March 2019, and the UK High Court has already approved his extradition to India. His multiple attempts to block extradition, including an appeal to the UK Supreme Court in December 2022, have failed.
The Enforcement Directorate (ED) had also registered a case under the Prevention of Money Laundering Act (PMLA) against him and his uncle Mehul Choksi back in 2018. Many of their assets have been seized since then.
FOLLOW US FOR MORE LEGAL UPDATES ON YOUTUBE
