The famous fugitive jeweller Nirav Modi, who was arrested on Tuesday, claimed in UK court that he was working in London for a salary of 20,000 pounds or 18 lakh in Indian money. The court is considering to grant the request of India in which India claimed the repatriation of fugitive fraud Nirav Modi who has been declared as wanted in India, as he was accused of an Rs. 13,000 crore bank scam.
The appeal of the bail of a billionaire was rejected by the court, which will prolong the hearing of the case again on 29th March. The Metropolitan court judge told, “ Remanding you in custody given the high value of amount involved in the allegations and the access you may have to means of escape”, adding, “ I have substantial grounds to believe that you may fail to surrender”.
48 years old Nirav Modi had offered 500,000 pounds as payment for getting bail, persisting that he would completely cooperate with the investigation. But he will have to stay under the custody of Scotland Yard for now.
The Indian fugitive jeweller also presented salary slips of 20,000 pounds and the proof about his payment of tax. He also submitted a number of National Insurance.
In his defence, Nirav Modi told he had reached in the UK in January in the last year before he was convicted for any kind of crime. Challenging the extradition request of India, he claimed he was in Britain lawfully.
Nirav Modi also claimed for the last five years his son had been in London school, as he was working in London, as well as attending an education course, and following his lawful service in London, he was a regular taxpayer.
The advocate of the Indian fugitive diamond seller presented Nirav Modi’s employment pass in the court, along with Hong Kong bank ID card and other bank cards. He submitted his travel documents for proving that he did not propose to run away.
The court was informed that he has been living in Apartment 42,1010 on New Oxford Street. The renowned daily had reported that he had set up a diamond business in Soho after procuring necessary permits.
Nirav Modi was famous in India for his prominent profiles of clients in Hollywood as well as in the Indian film industry until the investigators exposed a massive scam concerning false guarantees in the name of the state-run Punjab National Bank, to facilitate overseas loans.