The main accused in Rs. 13,000 crore Punjab National Bank scam, fugitive jeweller Nirav Modi was denied bail by London court. Since the arrest of the billionaire diamantaire last week, this is the second time the court rejected his bail application.
The next date of hearing is April 26. In the next hearing at London’s Westminster Magistrates’ court, Nirav Modi will be produced through video conferencing as per reports.
“There are substantial grounds to believe that Nirav Modi will fail to surrender,” Chief Magistrate Emma Arbuthnot said. The same judge had ordered the extradition of another fugitive tycoon – former Kingfisher Airlines boss Vijay Mallya – last December.
Looking more dishevelled and dressed in a similar white shirt as his first court appearance last week, the scam-accused billionaire was brought to the dock to be produced before Westminster Magistrates Court Chief Magistrate Emma Arbuthnot and sat behind a glass enclosure as the hearing got underway.