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Punjab National Bank fraud Case: British court rejects fugitive diamantaire Nirav Modi’s fresh bail application

Nirav Modi. Photograph:( ANI )

WION Web Team New Delhi, Delhi, India Nov 06, 2019, 06.36 PM (IST)

Britain's Westminster Magistrates’ Court on Wednesday rejected a new bail application of the fugitive diamantaire Nirav Modi.

Nirav Modi is accused of duping Punjab National Bank of more than Rs 13,000 crore. He fled to the United Kingdom in 2018 and was arrested earlier this year. 

Judge Emma Arbuthnot rejected his bail application despite Modi’s offer to double security from 2 million pounds to 4 million pounds. 

Nirav Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19 and has been in prison since.

Many bail applications have been posted by Nirav Modi's legal team since his arrest but they were rejected every time as he is deemed a flight risk.

(With inputs from agencies)