Nirav Modi may abscond if released on bail: UK court
The UK High Court has again denied the bail plea of fugitive businessman Nirav Modi, citing “confidential impediment” delaying his extradition to India on fraud charges. The court also noted that there is a strong chance that Nirav might “fail to surrender” and abscond if released.
Nirav Modi, the 49-year-old diamond merchant, faces charges in the Punjab National Bank (PNB) fraud case amounting to around ₹6,498 crore. He has been in a UK prison since his arrest in March 2019. The UK authorities have been grappling with the complexities of extraditing him to India, which has been a prolonged and challenging process.
The latest development in the case comes after Nirav’s lawyers had argued that he should be released on bail as he had a “clean” criminal record and posed no flight risk. However, the UK High Court judges, including Justice Martin Spencer and Justice Jeremy Stuart-Smith, dismissed the plea, citing the “confidential impediment” that was delaying the extradition process.
In their ruling, the judges noted that there was a “strong possibility” that Nirav might “fail to surrender” if released on bail. They also expressed concerns that Nirav’s release could create a “distraction” from the ongoing investigation into his role in the PNB fraud case.
The UK authorities have been working closely with their Indian counterparts to extradite Nirav, but the process has been delayed due to a number of factors, including the need to obtain evidence and ensure that Nirav’s extradition is in compliance with Indian law.
The PNB fraud case is one of the largest banking frauds in Indian history, and Nirav’s extradition is seen as a major step towards bringing those responsible to justice. The case has also highlighted the need for greater cooperation between law enforcement agencies in India and the UK to combat financial fraud.
Nirav’s extradition has been delayed several times due to a number of issues, including the need to resolve issues related to the Indian government’s decision to withdraw the passport of one of his key witnesses, a former PNB employee. The witness, Gokul Chandra Katyal, has been a crucial part of the investigation, and his passport was withdrawn by the Indian government last year.
In addition to the PNB fraud case, Nirav also faces charges in a separate case related to the LoUs (Letters of Understanding) issued by PNB to facilitate his fraudulent activities. The LoUs were used to obtain loans from other banks, and the fraud was uncovered in January 2018.
The UK authorities have been working closely with the Indian authorities to gather evidence and build a strong case against Nirav. The Indian government has sent a team of officials to the UK to assist with the investigation, and Nirav has been cooperating with the authorities to some extent.
However, despite the progress that has been made, the extradition process remains complex and challenging. Nirav’s lawyers have argued that he is not a flight risk and that he should be released on bail, but the UK High Court has rejected this argument, citing the “confidential impediment” that is delaying the extradition process.
The UK High Court’s decision to deny Nirav’s bail plea is a significant setback for him, and it is likely to prolong his extradition process. However, it is also a significant step forward in the efforts to bring those responsible for the PNB fraud to justice.
In conclusion, the UK High Court’s decision to deny Nirav Modi’s bail plea is a significant development in the ongoing extradition process. The court’s ruling highlights the complexity and challenges involved in extraditing Nirav, and it underscores the need for greater cooperation between law enforcement agencies in India and the UK to combat financial fraud.
