Nirav Modi is undergoing extradition proceedings in the United Kingdom, intended to appeal for bail in the UK High Court, after his bail application was rejected by a lower court in London twice. The fugitive Diamond merchant is accused in USD 1-billion PNB fraud and money laundering scam.
The Crown Prosecution Service (CPS), represented by authorities of India through the extradition process in the UK Court, said that Mr. Modi intended to appeal against the decision of Judge Emma Arbuthnot, which is to turn down his bail plea at the end of a hearing at Westminster Magistrates’ Court on last week on the grounds that there was a “substantial risk he would fail to surrender”.
Today, a CPS spokesman confirmed that “Nirav Modi intends to appeal his bail decision, but he has not yet submitted the appeal.”
Nirav Modi has been behind the bars at HMP Wandsworth in south-west London since his first bail plea was rejected on March 20, can anytime apply for a High Court bail until his next remand hearing on April 26.
However, the fugitives’ legal adviser must give notice to the CPS before 48-hours and the bail hearing must be listed within 48-hours of the appeal as well.
In a reference to plan for a bail appeal application, Solicitor of Mr. Modi, Anand Doobay said that “we are not making any comment at this time.”
Now it’s time to see how his legal team is able to bolster the bail plea after Chief Magistrate Arbuthnot ruled that 1 million pounds offered as security for bail and facility to meet stringent electronic tag restrictions on his movements, “akin to house arrest”, were also not sufficient to convince her that he didn’t pose a flight risk.
The judge noted, “This is a case of substantial fraud, with the loss to a bank in India of between USD 1-2 billion. I am not persuaded that the conditional bail sought will meet the concerns of the government of India in this case.”
However, it seems that he would appeal to the United Kingdom High Court.
More details awaited.