Nirav Modi’s Bail Application Rejected for Third Time by London Court

Nirav Modi’s Bail Application Rejected for Third Time by London Court

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London’s Westminster Court rejected the bail plea once again on Friday, shaking fugitive Indian diamond trader Nirv Modi. Earlier in March, the same court had rejected the bail application of Nirav. He is absconding from India after the biggest bank scam.

According to the reports, Neerav lodged in front of the court through video conferencing. According to the sources linked to this case, Nirav will be behind the bars of jail for at least 6 weeks and after that he can file a petition in the upper court for bail.

Crown Prosecution Service (CPS) protested Neerav’s bail plea, told the Westminster Court that the diamond trader had warned a former employee of the witness bank in the bank fraud case to face serious consequences on making the information public.

Neerav has alleged that he had lent Rs 13,500 crore from Punjab National Bank (PNB) and did not repay it. He had received this amount through fraud from Letters of Undertaking (LOU) and Foreign Letters of Credit (FLC) from PNB. The Indian government is trying to bring Nirav back to the country through extradition.

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