Nirav Modi bail rejected by UK Court again, calls him a 'flight risk'

In an another set back for Nirav Modi, the fugitive businessman's bail plea was rejected once again by a UK court. This is reportedly Nirav Modi's 5th attempt to secure bail which the court rejected citing him as a flight risk. It was revealed that Nirav Modi's team doubled the security amount but the court remained unconvinced. 

Nirav Modi, who is wanted by Indian authorities in relation to Rs 13,500 crore Punjab National Bank fraud case, offered a bail bond of 4 million pounds - double than what he had offered in the past - but could not convince the court that he would come back were he given bail. This raised the question that since Nirav Modi has access to a huge amount of money despite being behind the bars was the reason for the court to call him a flight risk. Nirav Modi, represented by Hugo Keith, offered to be put under house arrest with electronic tagging and strictest conditions, but Judge Emma Arbuthnot once again denied him bail. The same Judge had refused his bail plea in the past too stating that she was not convinced that Modi would not leave the country and that this was not a regular case of fraud. 

Sought bail citing 'anxiety and negative' thoughts

Earlier, Nirav Modi had moved to a court in London seeking bail citing “anxiety and negative thoughts”. This was the fifth attempt by the fugitive diamantaire to secure bail who is currently lodged at Wandsworth prison in London. The 48-year-old businessman has moved another bail application to a court claiming that he was suffering from anxiety and negative thoughts. 

Read: PNB scam: London Court rejects Nirav Modi's bail plea for fifth time

Read: Nirav Modi seeks bail claiming "anxiety and negative thoughts”

In October, Nirav Modi had appeared a video link for regular remand hearing at the Westminster Magistrates' Court in London where he was further remanded in custody till 11 November 2019. It means that Nirav Modi will once again appear through a video link for his hearing. This process would continue every 28 days as it is required by the UK law for those awaiting extradition trial. Nirav Modi's extradition trial is scheduled to take place between May 11 to 15, 2020. The diamantaire who was once living around one of the most expensive localities in London – Oxford Street, has been in judicial custody since March 2019 after being arrested by Scotland Yard on an extradition warrant against him. He was arrested from a bank in central London while looking to open a bank account.

Read: PNB Scam: Two fresh applications filed in Mehul Choksi's case

Read: MASSIVE CRACKDOWN: Switzerland Authorities Freeze Fugitive Diamantaire Nirav Modi And His Sister's Bank Accounts Worth $ 6.4 Million. Details Here