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

London's Westminster Magistrates’ court denied bail to Nirav Modi on November 6, who was citing 'anxiety and negative thoughts' for indemnity. The fugitive diamond merchant is wanted in Rs.13,500 crore Punjab National Bank fraud and made his fifth attempt to secure bail in the London court. Nirav Modi is currently lodged at London's Wandsworth prison.

Read - Nirav Modi Seeks Bail Claiming "anxiety And Negative Thoughts”

Appeared in court via video link earlier

Earlier this month, Nirav Modi had appeared through 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 11 to 15 May 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.

Read - Nirav Modi's Custody Extended Till 11 November 2019 In The UK

GOI advocate opposed his bail

Jonathan Swain, who represented the Crown Prosecution Service on behalf of the government of India, opposed his bail plea arguing that Nirav Modi was a flight risk. He said that the crime involved a huge amount of money and was “sophisticated” in nature and that Modi would fail to surrender as he had “access to considerable means”. District Judge Marrie Mallon after hearing the arguments concluded that while she took into account his cooperation and willingness, it was a high-value crime. She said that Modi had access to means, implying that there was a potential flight risk, hence she had substantial grounds to believe that Modi would fail to surrender. Nirav Modi's team has already made four bail applications since his arrest but has not been successful. The courts have held that Nirav Modi was a potential flight risk and also that attempts were made to destroy evidence related to the case.

Read - Nirav Modi To Appear For Video Link Remand Hearing From UK Jail

Read - Nirav Modi To Appear Via Video Link For UK Remand Hearing