Nirav Modi tenth bail plea rejected: ‘UK courts twice concluded that…’

Dismissing fugitive Nirav Modi’s recent bail plea, the London Excessive Court docket choose mentioned UK courts have “twice concluded that there’s an evidenced prima facie case in opposition to the applicant.”

In response to information company ANI, the courtroom additional acknowledged that Nirav Modi’s danger of absconding is excessive.

Whereas rejecting Nirav Modi’s bail plea on Could 15, Justice Michael Fordham on the Royal Courts of Justice mentioned, “And I repeat, after cautious analysis, UK courts have twice concluded that there’s an evidenced prima facie case in opposition to the applicant.”

Nirav Modi, 54, had filed a bail software after his extradition to India was allowed by a UK Court docket earlier.

Indian companies opposed Nirav Modi’s bail software earlier than the London Excessive Court docket. It was his tenth bail petition since his detention in the UK in 2019.

Who’s Nirav Modi?

Nirav Modi is the prime accused within the over ₹13,800-crore fraud at Punjab Nationwide Financial institution. He was declared a fugitive financial offender by India in December 2019.

The ED registered the PMLA case in opposition to him and his uncle Mehul Choksi in 2018, with a number of belongings seized throughout investigations. His makes an attempt to dam extradition have repeatedly failed, together with a plea to the UK Supreme Court docket in December 2022.

British authorities arrested Modi in March 2019, and the UK Excessive Court docket has already authorised his extradition to India.

‘Evidenced prima facie case’

The UK Excessive Court docket mentioned that Nirav Modi is needed for trial in India for issues of ‘very nice seriousness and substance’ referring to allegations of financial crime, by which he’s mentioned to have been the principal perpetrator, ANI reported.

The Excessive Court docket famous that the allegation is that, because the lead perpetrator, Nirav Modi (performing along side others) fraudulently induced the PNB to difficulty paperwork which allowed cash to be withdrawn from international banks.

“The central factors put ahead on the applicant’s behalf within the earlier extradition proceedings have been, that there was an excellent and lawful rationalization for the switch of the monies to the related entities who acquired these monies; somewhat than any denial that the monies have been actually transferred,” the courtroom famous within the order of Could 15.

The quantities alleged to have been transferred, induced by the fraud, come to an mixture quantity of 1,015.35 million US {dollars}, Justice Fordham mentioned.

The courts, within the context of the applicant’s extradition, have on two events assessed the underlying proof being relied on in opposition to the bail applicant. On every event, the courtroom has been happy that there’s a “prima facie case”, Fordham mentioned.

The courtroom additionally thought-about the destruction of a cell phone in 2018 and interference with witnesses. “Half of what’s alleged is that he was criminally chargeable for actions by which witnesses have been interfered with and proof was destroyed,” the courtroom famous.

The Decide additional famous, “Additionally mentioned to have been destroyed was proof on a pc server in Dubai in February 2018. All of that may have taken place on the time when the Applicant was right here within the UK.”

CBI confirms UK courtroom’s resolution

Earlier this week, the Central Bureau of Investigation (CBI) issued a press launch confirming the courtroom’s resolution.

The CBI mentioned, “Contemporary Bail Petition filed by Nirav Deepak Modi was rejected by the Excessive Court docket of Justice, King’s Bench Division, London.”

“The bail arguments have been strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a robust CBI crew consisting of investigating and legislation officers who travelled to London for this function,” the CBI mentioned.

The assertion added: “Central Bureau of Investigation (CBI) may efficiently defend the arguments which resulted in rejection of the bail.”

The assertion added, “Nirav Deepak Modi is in UK jail since nineteenth March 2019. It might be recalled that Neerav Modi is a fugitive financial offender who is needed for Trial in India in a Financial institution fraud case of CBI for defrauding Punjab Nationwide Financial institution for Rs. 6498.20 crore.”

The CBI additional acknowledged: “That is his tenth bail petition since his detention in UK which was efficiently defended by CBI by means of Crown Prosecution Service, London.”

(With inputs from companies)