London High Court Denies Nirav Modi’s Bail Plea Again

The London High Court has turned down Nirav Modi’s tenth request for bail, suggesting that the fugitive diamond trader might flee if released. The court found “a prima facie case of evidence against the applicant.”

Judge Michael Fordham rejected Modi’s bail application, citing a significant risk of absconding. He emphasized that a thorough evaluation confirmed that there was a strong prima facie case against Modi, reiterating the decision made on May 15.

Modi, now 54, made the bail application after a British court had approved his extradition to India. His request faced opposition from Indian authorities. Notably, this was his tenth attempt at securing bail since being detained in the UK in 2019.

India named Nirav Modi as the main accused in a fraud case involving over ₹13,800 crores related to the Punjab National Bank (PNB), declaring him a fugitive economic offender in December 2019.

The British High Court noted that Modi is wanted for serious charges in India concerning major economic crimes, where he is alleged to be a leading figure.

During previous extradition hearings, it was argued on Modi’s behalf that there were legitimate reasons for the transfer of funds to certain entities. However, the court indicated in its May 15 order that it was not disputing the fact that the money was transferred.

The fraudulent transactions are alleged to have totaled an astounding $1.015 billion, as mentioned by Justice Fordham.

The court has evaluated the evidence supporting the bail request multiple times, concluding each time that there is a prima facie case, according to Judge Fordham.

Concerns were also raised about the destruction of mobile phones and potential witness tampering dating back to 2018.

The judge remarked that the evidence related to a computer server in Dubai indicates serious wrongdoing by the applicant, especially during his time in the UK.

This week, the Central Bureau of Investigation (CBI) issued a press release backing the court’s decision. They confirmed that the High Court of King’s Bench Division in London rejected Modi’s new bail plea, which faced strong opposition from the Crown Prosecutor’s Service and a team of CBI investigators who traveled to London to support the case.

The CBI stated, “We successfully defended against the bail request. Nirav Modi has been incarcerated in the UK since March 19, 2019. It’s worth noting that he is a fugitive economic criminal sought in India.”

The agency further added that this marks his tenth bail application since his UK detention, which has been effectively opposed by the CBI with help from the London Crown Prosecutor’s Office.

Nirav Modi was arrested by British authorities in March 2019, and his extradition to India has already been approved by the UK High Court. The Enforcement Directorate (ED) initiated a case against him and his uncle, Mehul Choksi, in 2018, leading to the seizure of several assets during the investigation. His attempts to challenge the extradition, including a petition to the UK Supreme Court in December 2022, have consistently failed.