UK court rejects fugitive Nirav Modi’s bail once again

Fugitive diamond merchant Nirav Modi of India, currently jailed in London was once again denied bail by the Westminster Court. The Chief Magistrate Emma Arbuthnot remanded him further until the 24th of May.

UK’s Crown Prosecution Service (CPS), argued on behalf of Indian authorities, pointed out that Nirav Modi was attempting to purchase citizenship in Vanuatu as grounds he could not be relied on to appear in court when called upon.

India has no extradition treaty in force with the Pacific island nation, and hence “in the absence of a treaty, it is a matter for the foreign country to consider, in accordance with its domestic laws and procedures, whether the country can agree to India’s extradition request on the basis of an assurance of reciprocity.”

Nirav Modi is fighting extradition from the UK to India for looting US$ 1 billion from state owned Punjab National Bank (PNB). He is being held at Wandsworth prison in London, where he has been since his arrest in March. The court have rejected his bail thrice until now.

Modi has been staying the United Kingdom after arriving in an Investor Visa that was granted in 2015. Investor Visas are given to individuals, mostly super rich allowing them to acquire residency rights in the UK based on a minimum of 2 million pound investment.

He was arrested on the 19th of March by Scotland Yard officers.

 Source : Various