NEW DELHI: The High Court of Justice, King’s Bench Division in London has rejected fugitive Indian diamond merchant Nirav Deepak Modi’s latest bail petition, the Central Bureau of Investigation (CBI) said on Thursday.
Modi, who has been facing fraud and money laundering charges in India, has been in prison in London for nearly six years after losing his extradition battle.
The premier probe agency said, the bail petition has been rejected by the High Court of Justice, King’s Bench Division, London after hearing Modi's bail arguments, which were strongly opposed by the Crown Prosecution Service with the help of a CBI, who were sent to London to pursue the case.
“The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose. CBI could successfully defend the arguments which resulted in the rejection of the bail,” the agency said.
It is to be noted here that Neerav Modi is a fugitive economic offender, who is wanted for trial in India in a Bank fraud case, which is being investigated by the CBI and Enforcement Directorate. The case pertains to defrauding Punjab National Bank worth Rs. 6498.20 crore.
Modi’s extradition has already been approved by the High Court of UK in favour of the Government of India. This was his 10th bail petition since his detention in the UK which was successfully defended by CBI through Crown Prosecution Service, London, the CBI said in a statement.