Nirav Modi's bail plea rejected again after CBI's strong opposition in UK court
A fresh bail petition filed by fugitive diamond trader Nirav Deepak Modi was on Thursday rejected by the High Court of Justice, King's Bench Division, London. This is the tenth bail petition since his detention in the UK, which was successfully defended by the CBI through Crown Prosecution Service, London.The bail arguments were strongly opposed by the Crown Prosecution Service Advocate, who was ably assisted by a strong Central Bureau of Investigation (CBI) team consisting of investigating and law officers who travelled to London for this purpose.advertisementThe CBI successfully defended the arguments which resulted in the rejection of the bail.Neerav Modi, who has been languishing in a UK jail since 2019, is a fugitive economic offender who is wanted for trial in India in the Rs 6,000 crore Punjab National Bank fraud case.His extradition has already been approved by the High Court of the UK on India's request.In December last year, Union Finance Minister Nirmala Sitharaman revealed that properties worth Rs 1,052.58 crore from the Nirav Modi case were handed back to both public and private banks.This came after the Enforcement Directorate attached assets worth Rs 29.75 crore belonging to Nirav Modi and his group of companies in September 2024. These attached assets included immovable properties and bank balances.These attachments added to the previously attached assets valued at Rs 2,596 crore located in India and abroad. In addition, a Special Court in Mumbai also confiscated assets worth Rs 692.90 crore under the Fugitive Economic Offenders Act, 2018.The ED investigation into the PNB fraud case was initiated following an FIR by the Central Bureau of Investigation (CBI). The investigation resulted in the identification and attachment of several domestic assets belonging to Nirav Modi and his associates under the Prevention of Money Laundering Act (PMLA), 2002.Must Watch
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