Nirav, who is currently facing extradition proceedings, has asked the British High Court to seek bail on the grounds that his life is potentially threatening. Nirav denied any misconduct, and believed that he would not flee the UK if he was released on bail. Lawyers from Indian investigative agencies strongly objected to his bail request. The hearing lasted for more than three hours on Thursday at the British High Court.
The British High Court found little power in Nirav Modi’s filing, ruling that there would be “substantial reasons” if it was released on bail Nirav, “there would not be surrendered.”
Nirav Modi and his uncle Mehul Choksi are facing extradition to India in the PNB scandal. ET first reported last month that Choksi was arrested by Belgian police. Choksi is currently in a Belgian prison. Last month, the Belgian court also rejected his bail.
Nirav Modi was arrested in London in March 2019.
It can be mentioned here that in the PNB scandal, ED has so far managed to return Rs 10,520 crore (Appox) to a bank consortium led by the Punjab National Bank (PNB).
