Nirav Modi, fighting extradition to India, is unlikely to get a fair trial there due to the politicisation of his case and he faces a "high risk of suicide" due to the lack of adequate medical facilities in Indian prisons, his legal team told a UK court on Tuesday.

The 49-year-old fugitive diamond merchant is fighting extradition charges related to the estimated $2 billion Punjab National Bank (PNB) fraud and money laundering case brought by the Indian government at Westminster Magistrates' Court in London.

On the second day of Modi's five-day extradition hearing at the court, Justice Samuel Goozee was taken through official Indian prisons data, including statistics on coronavirus cases at Arthur Road Jail in Mumbai where Modi is to be held if he is extradited.

Modi's barrister, Clare Montgomery, also laid out her plans to depose further expert witnesses during the course of week, including a former Indian Supreme Court judge referred to only by his last name of Katju.

"There has been a significant decline in the integrity of the justice system in India&nbsp;and the Nirav Modi case has been made a political issue, with no presumption made of innocence,"&nbsp;Montgomery told the court.

She claimed that because the jeweller had been made into a "hate figure" in India, there was an "overwhelming political necessity" to condemn him and see him convicted.

She added that other defence witnesses also highlight a decline in the "standards of behaviour" of investigating agencies, the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED).

The court was told about a "marked decline"&nbsp;in Modi's mental health at Wandsworth Prison in south-west London, where stricter coronavirus curbs have meant a lack of access to inhouse counselling facilities and very limited contact with family, with only 25 minutes allowed outside his cell in July.

"He has increasingly suffered from severe depression and the latest assessment shows he is on the threshold of being subject to hospitalisation unless given proper treatment&nbsp;and his fitness to plead may be in doubt here or in the requesting state (India) given a high risk of suicide,"&nbsp;Montgomery said, adding that the availability of psychiatric help in Indian prisons was "utterly inadequate".

"The laconic assurance [of the government of India] and the prison video to say that he will be kept in humane conditions appears to be completely inadequate when one bears in mind his psychiatric condition and in addition the looming threat of COVID-19," she said.

Modi's legal team also indicated plans to depose an expert in tropical medicine in an attempt to counter Indian government claims that the COVID-19 outbreak reported at Arthur Road Jail in Mumbai in May had been brought under control.

"What is claimed is improbable and the management of COVID-19 within Arthur Road Jail does not add up," Montgomery told the judge.

The defence arguments follow the Crown Prosecution Service (CPS) opening the second part of the extradition trial on Monday on behalf of the Indian authorities, which focused on establishing a prima facie case of fraud and money laundering against Modi.

CPS barrister Helen Malcolm took Justice Goozee through detailed witness statements by so-called "dummy directors"&nbsp;including Ashish Lad, who recorded a video back in June 2018 to say that his life had been threatened by Modi.

She laid out details of how as the details of the fraud were beginning to emerge, the jeweller started by hiding most of the evidence, in particular the originals of "letters of undertaking" (LoUs) from PNB, and then went on to "threaten, intimidate, cajole and bribe officials."

"He destroyed mobiles of dummy directors and threatened one of the witnesses with death," Malcolm told the court.

Modi, dressed in a dark suit and white shirt, has been observing the court proceedings remotely from a room in Wandsworth Prison and referring to bundles of documents laid out before him from time to time.

He is subject to two sets of criminal proceedings, the first brought by the CBI relating to a large-scale fraud said to have been committed upon PNB and the ED case, relating to the laundering of the proceeds of that fraud.

A further extradition request was made in February this year, certified by UK Home Secretary Priti Patel, of two additional offences relating to allegations that Modi interfered with the CBI investigation by causing the disappearance of evidence and intimidating a witness.

The CPS must establish a prima facie case against Modi to allow the judge to rule that he has a case to answer before the Indian courts. If the judge finds a prima facie case against Modi, it will go back to Patel to formally certify his extradition to India to stand trial.

A ruling in the case is expected at the end of this year after a final hearing scheduled for December 1.

Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. The jeweller was arrested on March 19 last year on an extradition warrant executed by Scotland Yard.

Nirav Modi, fighting extradition to India, is unlikely to get a fair trial there due to the politicisation of his case and he faces a "high risk of suicide" due to the lack of adequate medical facilities in Indian prisons, his legal team told a UK court on Tuesday.

Nirav Modi, fighting extradition to India, is unlikely to get a fair trial there due to the politicisation of his case and he faces a "high risk of suicide" due to the lack of adequate medical facilities in Indian prisons, his legal team told a UK court on Tuesday. The 49-year-old fugitive diamond merchant is fighting extradition charges related to the estimated $2 billion Punjab National Bank (PNB) fraud and money laundering case brought by the Indian government at Westminster Magistrates' Court in London. On the second day of Modi's five-day extradition hearing at the court, Justice Samuel Goozee was taken through official Indian prisons data, including statistics on coronavirus cases at Arthur Road Jail in Mumbai where Modi is to be held if he is extradited. Modi's barrister, Clare Montgomery, also laid out her plans to depose further expert witnesses during the course of week, including a former Indian Supreme Court judge referred to only by his last name of Katju. "There has been a significant decline in the integrity of the justice system in India and the Nirav Modi case has been made a political issue, with no presumption made of innocence," Montgomery told the court. She claimed that because the jeweller had been made into a "hate figure" in India, there was an "overwhelming political necessity" to condemn him and see him convicted. She added that other defence witnesses also highlight a decline in the "standards of behaviour" of investigating agencies, the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED). The court was told about a "marked decline" in Modi's mental health at Wandsworth Prison in south-west London, where stricter coronavirus curbs have meant a lack of access to inhouse counselling facilities and very limited contact with family, with only 25 minutes allowed outside his cell in July. "He has increasingly suffered from severe depression and the latest assessment shows he is on the threshold of being subject to hospitalisation unless given proper treatment and his fitness to plead may be in doubt here or in the requesting state (India) given a high risk of suicide," Montgomery said, adding that the availability of psychiatric help in Indian prisons was "utterly inadequate". "The laconic assurance [of the government of India] and the prison video to say that he will be kept in humane conditions appears to be completely inadequate when one bears in mind his psychiatric condition and in addition the looming threat of COVID-19," she said. Modi's legal team also indicated plans to depose an expert in tropical medicine in an attempt to counter Indian government claims that the COVID-19 outbreak reported at Arthur Road Jail in Mumbai in May had been brought under control. "What is claimed is improbable and the management of COVID-19 within Arthur Road Jail does not add up," Montgomery told the judge. The defence arguments follow the Crown Prosecution Service (CPS) opening the second part of the extradition trial on Monday on behalf of the Indian authorities, which focused on establishing a prima facie case of fraud and money laundering against Modi. CPS barrister Helen Malcolm took Justice Goozee through detailed witness statements by so-called "dummy directors" including Ashish Lad, who recorded a video back in June 2018 to say that his life had been threatened by Modi. She laid out details of how as the details of the fraud were beginning to emerge, the jeweller started by hiding most of the evidence, in particular the originals of "letters of undertaking" (LoUs) from PNB, and then went on to "threaten, intimidate, cajole and bribe officials." "He destroyed mobiles of dummy directors and threatened one of the witnesses with death," Malcolm told the court. Modi, dressed in a dark suit and white shirt, has been observing the court proceedings remotely from a room in Wandsworth Prison and referring to bundles of documents laid out before him from time to time. He is subject to two sets of criminal proceedings, the first brought by the CBI relating to a large-scale fraud said to have been committed upon PNB and the ED case, relating to the laundering of the proceeds of that fraud. A further extradition request was made in February this year, certified by UK Home Secretary Priti Patel, of two additional offences relating to allegations that Modi interfered with the CBI investigation by causing the disappearance of evidence and intimidating a witness. The CPS must establish a prima facie case against Modi to allow the judge to rule that he has a case to answer before the Indian courts. If the judge finds a prima facie case against Modi, it will go back to Patel to formally certify his extradition to India to stand trial. A ruling in the case is expected at the end of this year after a final hearing scheduled for December 1. Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. The jeweller was arrested on March 19 last year on an extradition warrant executed by Scotland Yard.

Nirav Modi faces suicide risk in India, UK court told

Fugitive diamond merchant Nirav Modi, who has been lodged at a prison in London since his arrest in March last year, is set to appear via videolink for the second leg of his extradition trial at a UK court on Monday.

The 49-year-old jeweller is fighting extradition charges related to the estimated USD 2-billion Punjab National Bank (PNB) fraud and money laundering case brought by the Indian government, being represented at Westminster Magistrates' Court in London by the UK's Crown Prosecution Service (CPS).

In line with the coronavirus lockdown restrictions, District Judge Samuel Goozee has directed Modi's appearance from a room in Wandsworth Prison in south-west London with social distancing norms in place for the part-remote setting for the five-day hearing scheduled to conclude on Friday.

Justice Goozee had presided over the first leg of the extradition in May, during which the CPS sought to establish a prima facie case of fraud and money laundering against Modi. The upcoming hearings are ear-marked to complete those arguments after the Indian government had submitted additional 'corroboratory evidence'.

It will then go on to deal with the additional extradition request, made by the Indian authorities and certified by UK Home Secretary Priti Patel earlier this year, which add on the charges of "causing the disappearance of evidence" and intimidating witnesses or 'criminal intimidation to cause death'&nbsp;against Modi.

Goozee has already said that the different extradition requests are inextricably linked, and he would therefore be handing down his judgment at the end of hearing all the arguments.

Additional hearings scheduled for November 3, for the judge to rule on the admissibility of the evidence that will be presented before him, and December 1, when both sides will make their final submissions, mean his ruling on whether Modi has a case to answer before the Indian courts is expected only after the final hearing in December.

The charges against the diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by PNB, known as 'letters of undertaking'&nbsp;(LoUs).

The CPS, appearing on behalf of India, had told the court that a number of PNB staff conspired with Modi to ensure LoUs were issued to his companies without ensuring they were subject to the required credit check, without recording the issuance of the LoUs and without charging the required commission upon the transactions.

Modi's team has sought to counter allegations of fraud by deposing witnesses to establish the volatility of the gems trade and that the LoUs were standard practice.

Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. The jeweller was arrested on March 19, 2019, on an extradition warrant executed by Scotland Yard.

At a case management hearing ahead of the trial last week, Modi's barrister Clare Montgomery had told the judge that she may be seeking a partial reporting ban on the proceedings following allegations of 'party political bias' against one of their 'expert witnesses from India' retired Indian High Court judge Abhay Thipsay.

"We may have to put in an application for reporting restrictions around the reporting of his [Thipsay] evidence to avoid further public commentary on it," she said.

From the legal documents submitted, prison conditions in India will once again play a major part in this extradition case, as in the past with other Indian extradition cases, with Modi's severe mental health condition being a factor to be raised behind closed doors.&nbsp;

Fugitive diamond merchant Nirav Modi, who has been lodged at a prison in London since his arrest in March last year, is set to appear via videolink for the second leg of his extradition trial at a UK court on Monday.

Fugitive diamond merchant Nirav Modi, who has been lodged at a prison in London since his arrest in March last year, is set to appear via videolink for the second leg of his extradition trial at a UK court on Monday. The 49-year-old jeweller is fighting extradition charges related to the estimated USD 2-billion Punjab National Bank (PNB) fraud and money laundering case brought by the Indian government, being represented at Westminster Magistrates' Court in London by the UK's Crown Prosecution Service (CPS). In line with the coronavirus lockdown restrictions, District Judge Samuel Goozee has directed Modi's appearance from a room in Wandsworth Prison in south-west London with social distancing norms in place for the part-remote setting for the five-day hearing scheduled to conclude on Friday. Justice Goozee had presided over the first leg of the extradition in May, during which the CPS sought to establish a prima facie case of fraud and money laundering against Modi. The upcoming hearings are ear-marked to complete those arguments after the Indian government had submitted additional 'corroboratory evidence'. It will then go on to deal with the additional extradition request, made by the Indian authorities and certified by UK Home Secretary Priti Patel earlier this year, which add on the charges of "causing the disappearance of evidence" and intimidating witnesses or 'criminal intimidation to cause death' against Modi. Goozee has already said that the different extradition requests are inextricably linked, and he would therefore be handing down his judgment at the end of hearing all the arguments. Additional hearings scheduled for November 3, for the judge to rule on the admissibility of the evidence that will be presented before him, and December 1, when both sides will make their final submissions, mean his ruling on whether Modi has a case to answer before the Indian courts is expected only after the final hearing in December. The charges against the diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by PNB, known as 'letters of undertaking' (LoUs). The CPS, appearing on behalf of India, had told the court that a number of PNB staff conspired with Modi to ensure LoUs were issued to his companies without ensuring they were subject to the required credit check, without recording the issuance of the LoUs and without charging the required commission upon the transactions. Modi's team has sought to counter allegations of fraud by deposing witnesses to establish the volatility of the gems trade and that the LoUs were standard practice. Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. The jeweller was arrested on March 19, 2019, on an extradition warrant executed by Scotland Yard. At a case management hearing ahead of the trial last week, Modi's barrister Clare Montgomery had told the judge that she may be seeking a partial reporting ban on the proceedings following allegations of 'party political bias' against one of their 'expert witnesses from India' retired Indian High Court judge Abhay Thipsay. "We may have to put in an application for reporting restrictions around the reporting of his [Thipsay] evidence to avoid further public commentary on it," she said. From the legal documents submitted, prison conditions in India will once again play a major part in this extradition case, as in the past with other Indian extradition cases, with Modi's severe mental health condition being a factor to be raised behind closed doors.

Nirav Modi extradition trial to resume in UK court on September 7

Nirav Modi, a diamond merchant who fled India and facing extradition, on Thursday was further remanded in custody until August 27.&nbsp;

The fugitive businessman appeared via videolink before Westminster Magistrates' Court in London on charges of defrauding and laundering money of Punjab National Bank (PNB), which amounts nearly USD 2 billion.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/enforcement-directorate-confiscates-nirav-modis-assets-worth-rs-329-crore-311693">Enforcement Directorate confiscates Nirav Modi's assets worth Rs 329 crore</a>

Modi was also told that the next hearing in the matter will be a case management one ahead of a five-day trial scheduled to begin from September 7.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/enforcement-directorate-brings-back-rs-1350-cr-worth-polished-diamonds-pearls-of-nirav-modi-choksi-firms-from-hong-kong-304856">Enforcement Directorate brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi, Choksi firms from Hong Kong</a>

"You (Modi) will appear via videolink again. Your lawyers may be present in court," District Judge Vanessa Baraitser said.&nbsp;

The trial will not only deal with arguments of establishing a prima facie case against Modi but will also hear a second extradition request from India over additional charges of "causing the disappearance of evidence" and intimidating witnesses or "criminal intimidation to cause death".&nbsp;

District Judge Samuel Goozee, who presided the first part of extradition trial, has already hinted that the requests made by New Delhi are "inextricably linked" and therefore he would be announcing an overall verdict post the conclusion of the second trial.&nbsp;

The 49-year-old diamond merchant is facing charges that are centred around fraudulent use of a credit service offered by the PNB, known as 'letters of undertaking' (LoUs).

Modi has denied all the charges and claimed that using LoUs is standard practice in gems trade.&nbsp;

(With inputs from PTI)

Nirav Modi, a diamond merchant who fled India and facing extradition, on Thursday was further remanded in custody until August 27. The fugitive businessman appeared via videolink before Westminster Magistrates' Court in London on charges of defrauding and laundering money of Punjab National Bank (PNB), which amounts nearly USD 2 billion.

Nirav Modi, a diamond merchant who fled India and facing extradition, on Thursday was further remanded in custody until August 27. The fugitive businessman appeared via videolink before Westminster Magistrates' Court in London on charges of defrauding and laundering money of Punjab National Bank (PNB), which amounts nearly USD 2 billion. Also read | Enforcement Directorate confiscates Nirav Modi's assets worth Rs 329 crore Modi was also told that the next hearing in the matter will be a case management one ahead of a five-day trial scheduled to begin from September 7. Also read | Enforcement Directorate brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi, Choksi firms from Hong Kong "You (Modi) will appear via videolink again. Your lawyers may be present in court," District Judge Vanessa Baraitser said. The trial will not only deal with arguments of establishing a prima facie case against Modi but will also hear a second extradition request from India over additional charges of "causing the disappearance of evidence" and intimidating witnesses or "criminal intimidation to cause death". District Judge Samuel Goozee, who presided the first part of extradition trial, has already hinted that the requests made by New Delhi are "inextricably linked" and therefore he would be announcing an overall verdict post the conclusion of the second trial. The 49-year-old diamond merchant is facing charges that are centred around fraudulent use of a credit service offered by the PNB, known as 'letters of undertaking' (LoUs). Modi has denied all the charges and claimed that using LoUs is standard practice in gems trade. (With inputs from PTI)

Nirav Modi's custody extended, trial to begin in September

The Enforcement Directorate (ED) on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders' law.

<a href="https://www.wionews.com/business-economy/enforcement-directorate-brings-back-rs-1350-cr-worth-polished-diamonds-pearls-of-nirav-modi-choksi-firms-from-hong-kong-304856">Also Read:&nbsp;ED brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi from Hong Kong</a>

This is the first confiscation of assets order issued under the law that was brought by the Modi government in 2018 with an aim to deter economic offenders from evading the process of law by remaining outside the jurisdiction of Indian courts.

The businessman, his uncle Mehul Choksi and others are being probed by the ED on money laundering charges in connection with an over $2 billion alleged bank fraud at a PNB branch in Mumbai.

"The confiscated properties are in the form of four flats at the iconic building Samudra Mahal in Worli Mumbai, a sea-side farm house and land in Alibaug, a wind mill in Jaisalmer, a flat in London, residential flats in UAE and shares and bank deposits," the central probe agency said in a statement.

A special court in Mumbai had on June 8 authorised the ED to confiscate the assets. Nirav Modi, 49, was declared a fugitive economic offender by the same court on December 5 last year.

"The ED has attached the properties worth Rs 329.66 crore under the FEO Act, 2018 which now stands confiscated to the central government," it said.

As per the FEO Act, the confiscated property can be put up for auction after 90 days of issuance of the order and the amount collected is deposited with the exchequer or government account.

The ED also sticks a notice of confiscation on such properties.

The agency till now has attached assets worth Rs 2,348 crore (assessed value) of Nirav Modi under the Prevention of Money Laundering Act (PMLA) in this case.

The agency said the special court had "directed it to attach the properties (other than assets mortgaged or hypothecated and secured to PNB led consortium) belonging to Nirav Modi and his companies and ordered that after attachment the said properties shall stand confiscated to central government under Section 12(2) and (8) of the FEO Act".

The court had also directed the consortium of banks to approach it for claiming the mortgaged or hypothecated and secured properties which were attached by the ED under PMLA.

"On examination of properties attached, it was found that assets worth Rs 1,000 crore are prima facie covered under mortgage."

"Further, the Bombay High Court had directed that sale proceeds of paintings of about Rs 45 crore to be kept as fix deposits till further orders," the agency said.

Process for confiscation of remaining attached properties under FEO Act is underway, it said.

The agency had filed an application before the Mumbai court on July 10, 2018 to declare Nirav Modi a fugitive economic offender based on its PMLA investigation against him.

Nirav Modi is currently lodged in a UK jail after being arrested in London in March, 2019 and is currently fighting extradition to India.&nbsp;

The Enforcement Directorate (ED) on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders' law.

The Enforcement Directorate (ED) on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders' law. Also Read: ED brings back Rs 1,350-cr worth polished diamonds, pearls of Nirav Modi from Hong Kong This is the first confiscation of assets order issued under the law that was brought by the Modi government in 2018 with an aim to deter economic offenders from evading the process of law by remaining outside the jurisdiction of Indian courts. The businessman, his uncle Mehul Choksi and others are being probed by the ED on money laundering charges in connection with an over $2 billion alleged bank fraud at a PNB branch in Mumbai. "The confiscated properties are in the form of four flats at the iconic building Samudra Mahal in Worli Mumbai, a sea-side farm house and land in Alibaug, a wind mill in Jaisalmer, a flat in London, residential flats in UAE and shares and bank deposits," the central probe agency said in a statement. A special court in Mumbai had on June 8 authorised the ED to confiscate the assets. Nirav Modi, 49, was declared a fugitive economic offender by the same court on December 5 last year. "The ED has attached the properties worth Rs 329.66 crore under the FEO Act, 2018 which now stands confiscated to the central government," it said. As per the FEO Act, the confiscated property can be put up for auction after 90 days of issuance of the order and the amount collected is deposited with the exchequer or government account. The ED also sticks a notice of confiscation on such properties. The agency till now has attached assets worth Rs 2,348 crore (assessed value) of Nirav Modi under the Prevention of Money Laundering Act (PMLA) in this case. The agency said the special court had "directed it to attach the properties (other than assets mortgaged or hypothecated and secured to PNB led consortium) belonging to Nirav Modi and his companies and ordered that after attachment the said properties shall stand confiscated to central government under Section 12(2) and (8) of the FEO Act". The court had also directed the consortium of banks to approach it for claiming the mortgaged or hypothecated and secured properties which were attached by the ED under PMLA. "On examination of properties attached, it was found that assets worth Rs 1,000 crore are prima facie covered under mortgage." "Further, the Bombay High Court had directed that sale proceeds of paintings of about Rs 45 crore to be kept as fix deposits till further orders," the agency said. Process for confiscation of remaining attached properties under FEO Act is underway, it said. The agency had filed an application before the Mumbai court on July 10, 2018 to declare Nirav Modi a fugitive economic offender based on its PMLA investigation against him. Nirav Modi is currently lodged in a UK jail after being arrested in London in March, 2019 and is currently fighting extradition to India.

Enforcement Directorate confiscates Nirav Modi's assets worth Rs 329 crore

Threats of being implicated for theft and even being killed are among the allegations caught on camera in a video recorded by so-called “dummy directors” associated with companies linked to Nirav Modi, which was submitted by the CBI to the UK court hearing the extradition case against the diamond merchant charged with fraud and money laundering.

A group of six Indian men can be heard in the video played at Westminster Magistrates’ Court in London during the trial this week, with each of them making allegations of being forced to leave Dubai and come to Cairo, Egypt, where their passports were confiscated and were allegedly made to sign dubious documents against their will by Modi’s brother, Nehal Modi.

“My name is Ashish Kumar Mohanbhai Lad, I am the namesake owner of Sunshine Gems Limited, Hong Kong, and Unity Trading Fze, Dubai,” says one of the men on the recording from June 2018.

“Nirav Modi phoned me and told me that he would implicate me for theft. He used the worst expletives” told me that he would get me killed… he did so much to us,” he says in Hindi.

The other Central Bureau of Investigation (CBI) witnesses include Rushabh Jethwa, who says he is the namesake owner of Empire Gems FZE in Sharjah; Sonu Mehta, the namesake director of Auragem Company Limited, Hong Kong; Shreedhar Mayekar, the namesake owner of Unique Diamond and Jewellery, Azman; and Nileshkumar Balwantrai Mistry, the namesake owner of Hamilton Precious Traders Limited in Dubai.

Speaking in a mix of Hindi and Gujarati, they are heard saying that they are making the recording as they fear for their safety and just want to go back to India but are being held against their will.

“We have signed the document because they will not give back our passports until we sign,” says Jethwa.

These witnesses relate to the Enforcement Directorate (ED) discovery that dummy directors/owners/managers were appointed in a number of overseas companies in Hong Kong and Dubai, though the companies remained under the direct control of Modi.

The charges against the 49-year-old diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by the Punjab National Bank (PNB), known as “letters of undertaking” (LoUs).

According to the government of India’s case, a number of PNB staff conspired with Modi to ensure LoUs were issued to these companies without ensuring they were subject to the required credit check, without recording the issuance of the LoUs and without charging the required commission upon the transactions. This resulted in a fraud amounting to nearly USD 2 billion.

Modi claims to have come to the UK ahead of a planned initial public offering (IPO) but an Interpol Red Notice was issued against him before he was traced to a plush rented apartment at Centre Point in central London early last year.

An extradition request from the Indian government was certified by the UK Home Office in February last year before his arrest by Scotland Yard on March 19, 2019. The jeweller remains behind bars at Wandsworth Prison in south-west London since then, failing to get bail despite repeated attempts.

A second extradition request, relating to “causing the disappearance of evidence” and intimidating witnesses or “criminal intimidation to cause death”, was also certified earlier this year. While the hearing to establish a prima facie case against Modi is ongoing in London this week, the extradition trial will conclude only in September once the second part of the case and the defence arguments against prison conditions at Arthur Road Jail in Mumbai are heard.

The UK’s Crown Prosecution Service (CPS), presenting the arguments in court on behalf of the Indian authorities, has sought to establish a pattern of dishonest behaviour on the part of Modi when he acquired the LoUs and also in their dispersal across a complex worldwide empire.

Modi’s defence team have claimed a paucity of evidence to prove dishonesty and also questioned the admissibility of some of the evidence.

A ruling in the extradition hearing to establish whether Modi has a case to answer in the Indian courts and that there are no human rights barriers to him being extradited to India is expected only after the second hearing in the case in September.

Threats of being implicated for theft and even being killed are among the allegations caught on camera in a video recorded by so-called “dummy directors” associated with companies linked to Nirav Modi, which was submitted by the CBI to the UK court hearing the extradition case against the diamond merchant charged with fraud and money laundering.

Threats of being implicated for theft and even being killed are among the allegations caught on camera in a video recorded by so-called “dummy directors” associated with companies linked to Nirav Modi, which was submitted by the CBI to the UK court hearing the extradition case against the diamond merchant charged with fraud and money laundering. A group of six Indian men can be heard in the video played at Westminster Magistrates’ Court in London during the trial this week, with each of them making allegations of being forced to leave Dubai and come to Cairo, Egypt, where their passports were confiscated and were allegedly made to sign dubious documents against their will by Modi’s brother, Nehal Modi. “My name is Ashish Kumar Mohanbhai Lad, I am the namesake owner of Sunshine Gems Limited, Hong Kong, and Unity Trading Fze, Dubai,” says one of the men on the recording from June 2018. “Nirav Modi phoned me and told me that he would implicate me for theft. He used the worst expletives” told me that he would get me killed… he did so much to us,” he says in Hindi. The other Central Bureau of Investigation (CBI) witnesses include Rushabh Jethwa, who says he is the namesake owner of Empire Gems FZE in Sharjah; Sonu Mehta, the namesake director of Auragem Company Limited, Hong Kong; Shreedhar Mayekar, the namesake owner of Unique Diamond and Jewellery, Azman; and Nileshkumar Balwantrai Mistry, the namesake owner of Hamilton Precious Traders Limited in Dubai. Speaking in a mix of Hindi and Gujarati, they are heard saying that they are making the recording as they fear for their safety and just want to go back to India but are being held against their will. “We have signed the document because they will not give back our passports until we sign,” says Jethwa. These witnesses relate to the Enforcement Directorate (ED) discovery that dummy directors/owners/managers were appointed in a number of overseas companies in Hong Kong and Dubai, though the companies remained under the direct control of Modi. The charges against the 49-year-old diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by the Punjab National Bank (PNB), known as “letters of undertaking” (LoUs). According to the government of India’s case, a number of PNB staff conspired with Modi to ensure LoUs were issued to these companies without ensuring they were subject to the required credit check, without recording the issuance of the LoUs and without charging the required commission upon the transactions. This resulted in a fraud amounting to nearly USD 2 billion. Modi claims to have come to the UK ahead of a planned initial public offering (IPO) but an Interpol Red Notice was issued against him before he was traced to a plush rented apartment at Centre Point in central London early last year. An extradition request from the Indian government was certified by the UK Home Office in February last year before his arrest by Scotland Yard on March 19, 2019. The jeweller remains behind bars at Wandsworth Prison in south-west London since then, failing to get bail despite repeated attempts. A second extradition request, relating to “causing the disappearance of evidence” and intimidating witnesses or “criminal intimidation to cause death”, was also certified earlier this year. While the hearing to establish a prima facie case against Modi is ongoing in London this week, the extradition trial will conclude only in September once the second part of the case and the defence arguments against prison conditions at Arthur Road Jail in Mumbai are heard. The UK’s Crown Prosecution Service (CPS), presenting the arguments in court on behalf of the Indian authorities, has sought to establish a pattern of dishonest behaviour on the part of Modi when he acquired the LoUs and also in their dispersal across a complex worldwide empire. Modi’s defence team have claimed a paucity of evidence to prove dishonesty and also questioned the admissibility of some of the evidence. A ruling in the extradition hearing to establish whether Modi has a case to answer in the Indian courts and that there are no human rights barriers to him being extradited to India is expected only after the second hearing in the case in September.

UK court played video of Nirav Modi’s threats to ‘dummy directors’

Fugitive diamond merchant Nirav Modi has filed another plea for bail to be heard by the High Court in London on Thursday, reported newsa agency PTI.

Modi is fighting his extradition to India on charges over the nearly $ 2 billion Punjab National Bank (PNB) fraud and money laundering case.

Modi, who has been lodged in a prison in south-west London since his arrest in March last year and is scheduled for an extradition trial in May, is making his fifth attempt at getting bail based on a change in circumstances.

However, he had already appealed to the High Court last year and the Crown Prosecution Service (CPS), arguing on behalf of the Indian government, said it will be arguing that the latest application should be heard at Westminster Magistrates' Court level.

"We think it should be heard at Westminster Magistrates' Court and will be making that point," a CPS spokesperson said.

"The bail application is regarding a change of circumstances. Modi has increased the security and offered more stringent bail conditions than last time," the spokesperson said.

Last week, Modi appeared via videolink from his prison before Judge David Robinson at the Westminster Magistrates' Court for his routine 28-day call-over remand hearing and was remanded in custody to appear again via videolink on March 24.

He has made three previous attempts for bail at the magistrates' court offering 2 million pounds and then doubling that to 4 million pounds as security, rejected each time over fears that he would flee the country and fail to surrender before the court.

Meanwhile, the Royal Courts of Justice in London will hear his latest bail application and consider if there has been a substantial change in circumstances since the previous appeal before the same court in June last year.

(With inputs from PTI)&nbsp;

 
&nbsp;

Fugitive diamond merchant Nirav Modi has filed another plea for bail to be heard by the High Court in London on Thursday, reported newsa agency PTI. Modi is fighting his extradition to India on charges over the nearly $ 2 billion Punjab National Bank (PNB) fraud and money laundering case.

Fugitive diamond merchant Nirav Modi has filed another plea for bail to be heard by the High Court in London on Thursday, reported newsa agency PTI. Modi is fighting his extradition to India on charges over the nearly $ 2 billion Punjab National Bank (PNB) fraud and money laundering case. Modi, who has been lodged in a prison in south-west London since his arrest in March last year and is scheduled for an extradition trial in May, is making his fifth attempt at getting bail based on a change in circumstances. However, he had already appealed to the High Court last year and the Crown Prosecution Service (CPS), arguing on behalf of the Indian government, said it will be arguing that the latest application should be heard at Westminster Magistrates' Court level. "We think it should be heard at Westminster Magistrates' Court and will be making that point," a CPS spokesperson said. "The bail application is regarding a change of circumstances. Modi has increased the security and offered more stringent bail conditions than last time," the spokesperson said. Last week, Modi appeared via videolink from his prison before Judge David Robinson at the Westminster Magistrates' Court for his routine 28-day call-over remand hearing and was remanded in custody to appear again via videolink on March 24. He has made three previous attempts for bail at the magistrates' court offering 2 million pounds and then doubling that to 4 million pounds as security, rejected each time over fears that he would flee the country and fail to surrender before the court. Meanwhile, the Royal Courts of Justice in London will hear his latest bail application and consider if there has been a substantial change in circumstances since the previous appeal before the same court in June last year. (With inputs from PTI)

UK court to hear Nirav Modi's fifth bail application

Rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav Modi will be auctioned next month, auction house Saffronart said on Wednesday.

The sale of 112 assets is being done by Saffronart on behalf of the Enforcement Directorate through a live auction, while 72 other items would be sold through an online auction.

Modi, who has allegedly defrauded state-run Punjab National Bank of over Rs 14,000 crore, is currently lodged in a British jail.

Saffronart, which had conducted an auction of some artworks belonging to Modi in March last year that fetched over Rs 55 crore, initially said there would be a live auction of 112 items on Thursday (February 27) and an online auction next week.

In a late evening statement on Wednesday, Saffronart said the live auction has been postponed to March 5 on "instructions from the Enforcement Directorate".

The online auction would be held as scheduled earlier on March 3 and 4.

A 1935 painting by Amrita Sher-Gil titled 'Boys with Lemons' is expected to be the biggest draw at the live auction and could fetch anywhere between Rs 12-18 crore. A 1972 piece from modernist M F Hussain is also expected to fetch a similar price, Saffronart said.

Other art pieces to be sold include works by V S Gaitonde, Manjit Bawa and Raja Ravi Varma, it added.

Rare timepieces, including a Jaeger-LeCoultre Men's 'Reverso Gyrotourbillon 2' Limited Edition Wristwatch that can fetch up to Rs 70 lakh, a Patek Phillipe 'Nautilus' Gold and

Diamond Wristwatch that is also estimated to fetch up to Rs 70 lakh, would also go under the hammer.

Among luxury cars, a Rolls Royce Ghost would be up for grabs and is expected to fetch up to Rs 95 lakh, Saffronart said, adding the car is ideal for long-distance travel.

The sale would also feature branded handbags, including from the iconic Birkin and Kelly lines by French luxury goods manufacturer Herms, which are expected to fetch up to Rs 6 lakh a piece.

There would be 72 items in the online auction, including a Porsche Panamera S car which could be sold for up to Rs 15 lakh, the auction house said.

Rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav Modi will be auctioned next month, auction house Saffronart said on Wednesday.

Rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav Modi will be auctioned next month, auction house Saffronart said on Wednesday. The sale of 112 assets is being done by Saffronart on behalf of the Enforcement Directorate through a live auction, while 72 other items would be sold through an online auction. Modi, who has allegedly defrauded state-run Punjab National Bank of over Rs 14,000 crore, is currently lodged in a British jail. Saffronart, which had conducted an auction of some artworks belonging to Modi in March last year that fetched over Rs 55 crore, initially said there would be a live auction of 112 items on Thursday (February 27) and an online auction next week. In a late evening statement on Wednesday, Saffronart said the live auction has been postponed to March 5 on "instructions from the Enforcement Directorate". The online auction would be held as scheduled earlier on March 3 and 4. A 1935 painting by Amrita Sher-Gil titled 'Boys with Lemons' is expected to be the biggest draw at the live auction and could fetch anywhere between Rs 12-18 crore. A 1972 piece from modernist M F Hussain is also expected to fetch a similar price, Saffronart said. Other art pieces to be sold include works by V S Gaitonde, Manjit Bawa and Raja Ravi Varma, it added. Rare timepieces, including a Jaeger-LeCoultre Men's 'Reverso Gyrotourbillon 2' Limited Edition Wristwatch that can fetch up to Rs 70 lakh, a Patek Phillipe 'Nautilus' Gold and Diamond Wristwatch that is also estimated to fetch up to Rs 70 lakh, would also go under the hammer. Among luxury cars, a Rolls Royce Ghost would be up for grabs and is expected to fetch up to Rs 95 lakh, Saffronart said, adding the car is ideal for long-distance travel. The sale would also feature branded handbags, including from the iconic Birkin and Kelly lines by French luxury goods manufacturer Herms, which are expected to fetch up to Rs 6 lakh a piece. There would be 72 items in the online auction, including a Porsche Panamera S car which could be sold for up to Rs 15 lakh, the auction house said.

Auction of Nirav Modi's assets postponed; live auction on March 5

The Central Bureau of Investigation (CBI) on Saturday filed a charge sheet in the Rs 13,500 crore Punjab National Bank (PNB) scam case in which it invoked criminal intimidation charges against the main accused, <a href="https://www.wionews.com/india-news/punjab-national-bank-fraud-case-nirav-modi-declared-fugitive-economic-offender-under-pmla-court-266342">Nirav Modi</a>, for threatening to kill one of the dummy directors of his company.

The investigating agency told the special court in Maharashtra that Modi threatened to kill one of the directors, Ashish Mohanbhai Lad if he ever expressed a desire to return to India from Cairo.

The CBI said that Lad had fled from Dubai to Cairo to avoid arrest. Later in June 2018, when he planned to return to India from Cairo, he was contacted by Nehal Modi on Nirav Modi's behalf and threatened.

"Investigation revealed that subsequent to the threatening call by Nirav Modi to Ashish Mohanbhai Lad... accused Nehal Modi offered Rs 20 lakh to Lad for visiting Europe to give a favourable statement before the lawyer and a judge in a European court to help Nirav Modi which was refused by Lad," the CBI said in the charge sheet.

Wanted diamantaire Nirav Modi was declared a fugitive economic offender earlier his month for evading prosecution in the scam.

Modi is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the bank along with his uncle, Mehul Choksi.

Modi, 48, was arrested in March this year by Scotland Yard in connection with the case.

He has not returned to India despite repeated summons from Indian probe agencies and courts.

India is seeking his extradition to make him face the law of the land for allegedly committing economic offences.&nbsp;

The Central Bureau of Investigation (CBI) on Saturday filed a charge sheet in the Rs 13,500 crore Punjab National Bank (PNB) scam case in which it invoked criminal intimidation charges against the main accused, Nirav Modi, for threatening to kill one of the dummy directors of his company.

The Central Bureau of Investigation (CBI) on Saturday filed a charge sheet in the Rs 13,500 crore Punjab National Bank (PNB) scam case in which it invoked criminal intimidation charges against the main accused, Nirav Modi, for threatening to kill one of the dummy directors of his company. The investigating agency told the special court in Maharashtra that Modi threatened to kill one of the directors, Ashish Mohanbhai Lad if he ever expressed a desire to return to India from Cairo. The CBI said that Lad had fled from Dubai to Cairo to avoid arrest. Later in June 2018, when he planned to return to India from Cairo, he was contacted by Nehal Modi on Nirav Modi's behalf and threatened. "Investigation revealed that subsequent to the threatening call by Nirav Modi to Ashish Mohanbhai Lad... accused Nehal Modi offered Rs 20 lakh to Lad for visiting Europe to give a favourable statement before the lawyer and a judge in a European court to help Nirav Modi which was refused by Lad," the CBI said in the charge sheet. Wanted diamantaire Nirav Modi was declared a fugitive economic offender earlier his month for evading prosecution in the scam. Modi is currently lodged at Wandsworth prison in south-west London and is wanted for his alleged role in the Rs 13,570 crore loss caused to the bank along with his uncle, Mehul Choksi. Modi, 48, was arrested in March this year by Scotland Yard in connection with the case. He has not returned to India despite repeated summons from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing economic offences.

PNB scam: Nirav Modi threatened to kill company's director, claims chargesheet

The Prevention of Money Laundering Act (PMLA) court in Mumbai on December 5 declared <a href="https://www.wionews.com/india-news/red-corner-notice-against-nirav-modis-brother-remains-valid-cbi-260646">Nirav Modi</a>, prime accused in the over $2 billion Punjab National Bank (PNB) scam a fugitive economic offender.

He is the second person, after Vijay Mallya, to be charged under the newly-promulgated Fugitive Economic Offenders (FEO) Act that was passed last year.

The Special court passed the order on the plea of Enforcement Directorate (ED).

Watch: Why is Nirav Modi threatening suicide?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-why-is-nirav-modi-threatening-suicide-260631/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Nirav Modi and Mehul Choksi are accused in the multi-crore scam that has rattled the country and economy.

<a href="https://www.wionews.com/india-news/punjab-national-bank-fraud-case-british-court-rejects-fugitive-diamantaire-nirav-modis-fresh-bail-application-260364">The scam started in 2011</a> and was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies.

Meanwhile, the PNB filed a second complaint with the CBI on February 13.

The CBI had received the complaint from the PNB on January 28 and a case was registered in the case on January 31.

(With inputs from ANI)

The Prevention of Money Laundering Act (PMLA) court in Mumbai on December 5 declared Nirav Modi, prime accused in the over $2 billion Punjab National Bank (PNB) scam a fugitive economic offender.

The Prevention of Money Laundering Act (PMLA) court in Mumbai on December 5 declared Nirav Modi, prime accused in the over $2 billion Punjab National Bank (PNB) scam a fugitive economic offender. He is the second person, after Vijay Mallya, to be charged under the newly-promulgated Fugitive Economic Offenders (FEO) Act that was passed last year. The Special court passed the order on the plea of Enforcement Directorate (ED). Watch: Why is Nirav Modi threatening suicide? Nirav Modi and Mehul Choksi are accused in the multi-crore scam that has rattled the country and economy. The scam started in 2011 and was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies. Meanwhile, the PNB filed a second complaint with the CBI on February 13. The CBI had received the complaint from the PNB on January 28 and a case was registered in the case on January 31. (With inputs from ANI)

Punjab National Bank fraud case: Nirav Modi declared fugitive economic offender

Nirav Modi declared as a fugitive economic offender by Mumbai court in the PNB scam

India: Nirav Modi declared fugitive by Mumbai court

The Central Bureau of Investigation will soon file fresh charges in the $2 billion <a href="https://www.wionews.com/india-news/punjab-national-bank-fraud-case-british-court-rejects-fugitive-diamantaire-nirav-modis-fresh-bail-application-260364">Punjab National Bank (PNB)</a> fraud case and detail how the alleged wrongdoing was carried out, according to a source with direct knowledge of the matter.

In the police's initial charges, billionaire jeweller Nirav Modi, 21 other people, including PNB officials, and three Modi companies were accused of being involved in fraudulent transactions that led to losses of roughly 65 billion rupees ($911 million) for PNB.

Three other Modi employees, a PNB officer, and a relative of Modi's are now also likely to be charged, said the source, who asked not to be identified as the charges have yet to be made public.

"The investigating officer's report is in and the charge sheet is ready. It is being reviewed by the head office," said the source.

India's Central Bureau of Investigation (CBI) did not immediately respond to a request for comment.

PNB, India's second-biggest state-run bank, in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups - controlled by Modi and his uncle Mehul Choksi - raise funds in foreign credit. Both have denied any wrongdoing.

Modi was arrested in London in March and is currently fighting extradition to India.

Police filed their first charges in May last year and at the time detailed only some of the alleged fraudulent transactions to Modi and his associates.

The new charge sheet will include 150 transactions and provide details on how fake bank guarantees were used to funnel funds between countries and dummy companies, the source said.

A separate second charge sheet against Choksi and his associates is still pending and will take time as police link 142 other transactions to that case, another source told Reuters on condition of anonymity.

PNB has said losses related to Choksi and his associates were more than 70 billion rupees.

The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank (PNB) fraud case and detail how the alleged wrongdoing was carried out, according to a source with direct knowledge of the matter.

The Central Bureau of Investigation will soon file fresh charges in the $2 billion Punjab National Bank (PNB) fraud case and detail how the alleged wrongdoing was carried out, according to a source with direct knowledge of the matter. In the police's initial charges, billionaire jeweller Nirav Modi, 21 other people, including PNB officials, and three Modi companies were accused of being involved in fraudulent transactions that led to losses of roughly 65 billion rupees ($911 million) for PNB. Three other Modi employees, a PNB officer, and a relative of Modi's are now also likely to be charged, said the source, who asked not to be identified as the charges have yet to be made public. "The investigating officer's report is in and the charge sheet is ready. It is being reviewed by the head office," said the source. India's Central Bureau of Investigation (CBI) did not immediately respond to a request for comment. PNB, India's second-biggest state-run bank, in 2018 alleged that a few rogue employees had issued fake bank guarantees over several years to help jewellery groups - controlled by Modi and his uncle Mehul Choksi - raise funds in foreign credit. Both have denied any wrongdoing. Modi was arrested in London in March and is currently fighting extradition to India. Police filed their first charges in May last year and at the time detailed only some of the alleged fraudulent transactions to Modi and his associates. The new charge sheet will include 150 transactions and provide details on how fake bank guarantees were used to funnel funds between countries and dummy companies, the source said. A separate second charge sheet against Choksi and his associates is still pending and will take time as police link 142 other transactions to that case, another source told Reuters on condition of anonymity. PNB has said losses related to Choksi and his associates were more than 70 billion rupees.

CBI to soon file fresh charges in $2 billion Punjab National Bank fraud case: Report

The CBI has clarified that the Red Corner Notice (RCN) against fugitive diamantaire Nirav Modi's brother Nehal Deepak Modi is valid and visible to all member countries.

"As per media query related to the Red Notice against Nehal Deepak Modi, it is clarified that the Interpol Secretariat General (IPSG), Lyon on 02.10.2019 informed that the Notice remains valid and visible to all member countries," CBI said.

The Interpol had in September issued a Red Corner Notice (RCN) against Nehal Deepak Modi in connection with a money laundering case.

Forty-year-old Nehal was born in Belgium and is now under the scanner in connection with the case.

Nirav Modi is the prime accused in Rs 13,500 crore Punjab National Bank (PNB) fraud and money laundering case.

He had fled the country in January last year before the scam came to light.

He was, however, arrested by Scotland Yard and is in jail since then. His judicial custody ends on September 19.&nbsp; 
&nbsp;

The CBI has clarified that the Red Corner Notice (RCN) against fugitive diamantaire Nirav Modi's brother Nehal Deepak Modi is valid and visible to all member countries.

The CBI has clarified that the Red Corner Notice (RCN) against fugitive diamantaire Nirav Modi's brother Nehal Deepak Modi is valid and visible to all member countries. "As per media query related to the Red Notice against Nehal Deepak Modi, it is clarified that the Interpol Secretariat General (IPSG), Lyon on 02.10.2019 informed that the Notice remains valid and visible to all member countries," CBI said. The Interpol had in September issued a Red Corner Notice (RCN) against Nehal Deepak Modi in connection with a money laundering case. Forty-year-old Nehal was born in Belgium and is now under the scanner in connection with the case. Nirav Modi is the prime accused in Rs 13,500 crore Punjab National Bank (PNB) fraud and money laundering case. He had fled the country in January last year before the scam came to light. He was, however, arrested by Scotland Yard and is in jail since then. His judicial custody ends on September 19.

Red Corner Notice against Nirav Modi's brother remains valid: CBI

The Man Who Looted India, Nirav Modi, Now Threatens To Commit Suicide If Extradited To India.

Gravitas: Why is Nirav Modi threatening suicide?

Will Kill Myself If Extradited says Nirav. Nirav is an accused in India's biggest banking fraud.

WION Dispatch: Mandy Clark on Nirav Modi Extradition

Will Nirav be extradited to India?

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

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.

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)

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

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till November 11 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old businessman appeared before the Westminster Magistrates' Court Judge via video link from Wandsworth prison in south-west London, where he is currently lodged.

The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January last year before the scam came to light.

Modi was arrested on March 19 by Scotland Yard in connection with the case and is in prison since then.

He has not returned to India despite repeated summonses from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences.

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till November 11 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case.

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till November 11 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old businessman appeared before the Westminster Magistrates' Court Judge via video link from Wandsworth prison in south-west London, where he is currently lodged. The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January last year before the scam came to light. Modi was arrested on March 19 by Scotland Yard in connection with the case and is in prison since then. He has not returned to India despite repeated summonses from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences.

Nirav Modi's judicial custody extended till Nov 11 by London court

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till November 11 in connection with Rs 13,500-crore Punjab National Bank (PNB) <a href="https://www.wionews.com/india-news/pnb-scam-involving-nirav-modi-timeline-and-how-the-events-unfolded-leading-to-his-arrest-204534">fraud and money laundering</a> case.

The 48-year-old businessman appeared before the Westminster Magistrates` Court Judge via video link from Wandsworth prison in south-west London, where he is currently lodged.

The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January last year before the scam came to light.

<a href="https://www.wionews.com/world/pnb-scam-uk-court-issues-arrest-warrant-against-nirav-modi-cbi-ed-officials-to-visit-london-soon-204148">Modi was arrested </a>on March 19 by Scotland Yard in connection with the case and is in prison since then. He has not returned to India despite repeated summonses from Indian probe agencies and courts.

India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences. The extradition trial of Nirav Modi is expected to begin in May 2020.

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till November 11 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old businessman appeared before the Westminster Magistrates` Court Judge via video link from Wandsworth prison in south-west London, where he is currently lodged. The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January last year before the scam came to light. Modi was arrested on March 19 by Scotland Yard in connection with the case and is in prison since then. He has not returned to India despite repeated summonses from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences. The extradition trial of Nirav Modi is expected to begin in May 2020.

Nirav Modi's judicial custody extended till November 11 by London court

A London court on Thursday extended the judicial custody of <a href="https://www.wionews.com/india-news/interpol-issues-red-corner-notice-against-fugitive-nirav-modis-brother-nehal-249347">fugitive diamantaire Nirav Modi</a> till October 17 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old businessman appeared before the Westminster Magistrates'&nbsp;Court via video link from Wandsworth prison in south-west London, where he is currently lodged.

The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case.

The duo fled the country in January last year before the scam came to light.

Modi was arrested on March 19 by Scotland Yard in connection with the case and is in prison since then.

He has not returned to India despite repeated summonses from Indian probe agencies and courts.

India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences.&nbsp; 
&nbsp;

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till October 17 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case.

A London court on Thursday extended the judicial custody of fugitive diamantaire Nirav Modi till October 17 in connection with Rs 13,500-crore Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old businessman appeared before the Westminster Magistrates' Court via video link from Wandsworth prison in south-west London, where he is currently lodged. The diamantaire and his nephew Mehul Choksi are the main accused in the PNB loan default case. The duo fled the country in January last year before the scam came to light. Modi was arrested on March 19 by Scotland Yard in connection with the case and is in prison since then. He has not returned to India despite repeated summonses from Indian probe agencies and courts. India is seeking his extradition to make him face the law of the land for allegedly committing the economic offences.

Nirav Modi's judicial custody extended till October 17 by London court

The Interpol on Friday issued a Red Corner Notice against fugitive diamantaire Nirav Modi’s brother Nehal Deepak Modi in a money laundering case, news agency ANI reported.&nbsp;

Nehal Modi, a Belgian national, is accused in the Rs 13,500 crore Punjab National Bank fraud case.

The RCN has been issued against Nehal Modi on the request of the Enforcement Directorate (ED) which is probing the money laundering case against Nirav Modi.

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Interpol has issued notice against Nirav Modi’s brother Nehal Deepak Modi in a money laundering case. <a href="https://t.co/cUy3nEynxL">pic.twitter.com/cUy3nEynxL</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1172396174310985729?ref_src=twsrc%5Etfw">September 13, 2019</a></blockquote>
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Nirav Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March.

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19.

An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018.

The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail.

Nirav Modi and Choksi also face charges under the Fugitive Economic Offenders Act. Both fled India before details of the fraud emerged in January, 2018.

The Interpol on Friday issued a Red Corner Notice against fugitive diamantaire Nirav Modi’s brother Nehal Deepak Modi in a money laundering case, news agency ANI reported.

The Interpol on Friday issued a Red Corner Notice against fugitive diamantaire Nirav Modi’s brother Nehal Deepak Modi in a money laundering case, news agency ANI reported. Nehal Modi, a Belgian national, is accused in the Rs 13,500 crore Punjab National Bank fraud case. The RCN has been issued against Nehal Modi on the request of the Enforcement Directorate (ED) which is probing the money laundering case against Nirav Modi. Interpol has issued notice against Nirav Modi’s brother Nehal Deepak Modi in a money laundering case. pic.twitter.com/cUy3nEynxL — ANI (@ANI) September 13, 2019 × Nirav Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March. Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19. An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018. The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail. Nirav Modi and Choksi also face charges under the Fugitive Economic Offenders Act. Both fled India before details of the fraud emerged in January, 2018.

Interpol issues Red Corner Notice against fugitive Nirav Modi's brother Nehal 

In a significant development, the Interpol has on Friday issued a Red Corner Notice against fugitive billionaire Nirav Modi’s brother Nehal Modi. Watch this video to know more.

PNB Scam: Nirav Modi’s brother receives Red Corner Notice from Interpol

The Enforcement Directorate on Thursday told the Supreme Court that custodial interrogation of senior Congress leader <a href="https://www.wionews.com/india-news/inx-media-case-supreme-court-reserves-order-on-chidambarams-anticipatory-bail-plea-for-september-5-extends-interim-protection-from-ed-arrest-246406">P Chidambaram in the INX media case</a> is required as if his plea for anticipatory bail is given it would affect cases involving Vijay Mallya, Mehul Choksi, Nirav Modi and Zakir Naik.

Disputing the contention of Chidambaram's lawyers, the agency also argued that the offence of money laundering is against the society, nation and the economy.

"Money laundering is an offence against society, nation and economy. Economic offences are gravest offences irrespective of quantum of sentence," Solicitor General Tushar Mehta appearing for the probe agency told a Bench of Justice R Banumathi and Justice AS Bopanna.

Countering the arguments of Chidambaram's advocates Kapil Sibal and Abhishek Manu Singhvi that Prevention of Money Laundering Act (PMLA) offences with seven years of punishment is not a grave offence because as per the Code of Criminal Procedure grave offences entail death penalty and life, Mehta said money laundering offences are "grave".

"Chidambaram's counsels have argued that gravity of an offence is subjective. PMLA offences may not be grave for them but the Courts have consistently held that economic offences are grave in nature. Gravity is a relative concept. Quantum of punishment is not relevant. What's important is what will be the impact of your offence in society. Money laundering is an offence against the society, nation and economy. Economic offences are gravest offences irrespective of quantum of sentence," Mehta said.

The top court was hearing Chidambaram's plea against Delhi High Court's order denying anticipatory bail to him in a case being probed by the ED.

Mehta also objected to the proposition made by Chidambaram's counsel Kapil Sibal to confront him with evidence before presenting it in the court, saying it is "absurd" and would have "devastating results" and is "preposterous".

Whether the accused's reply was evasive or not is decided by investigating agency and not by the court, he added.

He said the ED has been investigating various sensitive and high profile cases under PMLA and if Chidambaram's plea is accepted it would affect cases against Vijay Mallya, Mehul Choksi, Neerav Modi, Zakir Naik, Sarada chit fund, terror funding and other cases.

Mehta also contended that if accused at large is confronted with the evidence collected, then the agency will have exposed its evidence and witnesses and it will give a chance to the accused to tamper with evidence and erase the money trail.

"The investigating agency has absolute discretion to what extent to reveal the evidence to the accused. It is best to confront the accused with evidence when he is in custody," Mehta told the court, adding that investigation is an art where the agency brings the accused to divulge details and not a mere question and answer format or an interview.

During the hearing, Mehta said if given an anticipatory bail, Chidambaram may erase the money trail, influence the witnesses and tamper with evidence.

"It's impossible to investigate when he's armed with anticipatory bail. It's ED's right and duty to unearth the truth. It would be difficult for the ED to catch him if he is under a protective umbrella and best way to elicit truth is when an accused is not under a protective umbrella," he said.

He also argued that the top court cannot be created as a regular court of appeal of the orders of the high courts, lower courts, and magistrate courts.

The apex court is "meant to lay down the law", Mehta said during the course of the proceedings in the High Court, a note was filed and it was examined by the Judge, adding that in the judgment it is said twice that the records have been examined to arrive at the conclusion.

"We are showing a document of evidence and they are saying don't show it to court before showing it to me. I want the court to look the material in my possession, including the statement of the accused, I have nothing to hide. I would insist that Court must look into the material available so that there is no iota of doubt about the material is cogent or not," Mehta said while concluding his arguments and added that he has documents in a sealed cover if the top court wanted to see.

In 2017, the Central Bureau of Investigation (CBI) had registered an FIR alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance was given to INX Media to the tune of Rs 305 crore in 2007 when Chidambaram was the Union finance minister.

Following the FIR filed by CBI, ED had filed a case of money laundering against him.&nbsp; 
&nbsp;

The Enforcement Directorate on Thursday told the Supreme Court that custodial interrogation of senior Congress leader P Chidambaram in the INX media case is required as if his plea for anticipatory bail is given it would affect cases involving Vijay Mallya, Mehul Choksi, Nirav Modi and Zakir Naik.

The Enforcement Directorate on Thursday told the Supreme Court that custodial interrogation of senior Congress leader P Chidambaram in the INX media case is required as if his plea for anticipatory bail is given it would affect cases involving Vijay Mallya, Mehul Choksi, Nirav Modi and Zakir Naik. Disputing the contention of Chidambaram's lawyers, the agency also argued that the offence of money laundering is against the society, nation and the economy. "Money laundering is an offence against society, nation and economy. Economic offences are gravest offences irrespective of quantum of sentence," Solicitor General Tushar Mehta appearing for the probe agency told a Bench of Justice R Banumathi and Justice AS Bopanna. Countering the arguments of Chidambaram's advocates Kapil Sibal and Abhishek Manu Singhvi that Prevention of Money Laundering Act (PMLA) offences with seven years of punishment is not a grave offence because as per the Code of Criminal Procedure grave offences entail death penalty and life, Mehta said money laundering offences are "grave". "Chidambaram's counsels have argued that gravity of an offence is subjective. PMLA offences may not be grave for them but the Courts have consistently held that economic offences are grave in nature. Gravity is a relative concept. Quantum of punishment is not relevant. What's important is what will be the impact of your offence in society. Money laundering is an offence against the society, nation and economy. Economic offences are gravest offences irrespective of quantum of sentence," Mehta said. The top court was hearing Chidambaram's plea against Delhi High Court's order denying anticipatory bail to him in a case being probed by the ED. Mehta also objected to the proposition made by Chidambaram's counsel Kapil Sibal to confront him with evidence before presenting it in the court, saying it is "absurd" and would have "devastating results" and is "preposterous". Whether the accused's reply was evasive or not is decided by investigating agency and not by the court, he added. He said the ED has been investigating various sensitive and high profile cases under PMLA and if Chidambaram's plea is accepted it would affect cases against Vijay Mallya, Mehul Choksi, Neerav Modi, Zakir Naik, Sarada chit fund, terror funding and other cases. Mehta also contended that if accused at large is confronted with the evidence collected, then the agency will have exposed its evidence and witnesses and it will give a chance to the accused to tamper with evidence and erase the money trail. "The investigating agency has absolute discretion to what extent to reveal the evidence to the accused. It is best to confront the accused with evidence when he is in custody," Mehta told the court, adding that investigation is an art where the agency brings the accused to divulge details and not a mere question and answer format or an interview. During the hearing, Mehta said if given an anticipatory bail, Chidambaram may erase the money trail, influence the witnesses and tamper with evidence. "It's impossible to investigate when he's armed with anticipatory bail. It's ED's right and duty to unearth the truth. It would be difficult for the ED to catch him if he is under a protective umbrella and best way to elicit truth is when an accused is not under a protective umbrella," he said. He also argued that the top court cannot be created as a regular court of appeal of the orders of the high courts, lower courts, and magistrate courts. The apex court is "meant to lay down the law", Mehta said during the course of the proceedings in the High Court, a note was filed and it was examined by the Judge, adding that in the judgment it is said twice that the records have been examined to arrive at the conclusion. "We are showing a document of evidence and they are saying don't show it to court before showing it to me. I want the court to look the material in my possession, including the statement of the accused, I have nothing to hide. I would insist that Court must look into the material available so that there is no iota of doubt about the material is cogent or not," Mehta said while concluding his arguments and added that he has documents in a sealed cover if the top court wanted to see. In 2017, the Central Bureau of Investigation (CBI) had registered an FIR alleging irregularities in the Foreign Investment Promotion Board (FIPB) clearance was given to INX Media to the tune of Rs 305 crore in 2007 when Chidambaram was the Union finance minister. Following the FIR filed by CBI, ED had filed a case of money laundering against him.

Bail to Chidambaram will affect cases of Mallya, Choksi, Nirav Modi: Enforcement Directorate

<a href="https://www.wionews.com/india-news/nirav-modi-aides-to-pay-rs-7300-crore-with-interest-to-pnb-debt-recovery-tribunal-233529">Fugitive businessman Nirav Modi</a> has been remanded to judicial custody till September 19 by London Westminster Court.&nbsp;

Judge Tan Ikram pronounced the judgement on Nirav Modi on Thursday.&nbsp;

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Fugitive businessman Nirav Modi remanded to judicial custody till 19th September by Judge Tan Ikram in London Westminster Court <a href="https://t.co/Cov19lGkke">pic.twitter.com/Cov19lGkke</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1164486241188024321?ref_src=twsrc%5Etfw">August 22, 2019</a></blockquote>
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Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case.

The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March.

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19.

An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018.

The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail.

Fugitive businessman Nirav Modi has been remanded to judicial custody till September 19 by London Westminster Court. Judge Tan Ikram pronounced the judgement on Nirav Modi on Thursday.

Fugitive businessman Nirav Modi has been remanded to judicial custody till September 19 by London Westminster Court. Judge Tan Ikram pronounced the judgement on Nirav Modi on Thursday. Fugitive businessman Nirav Modi remanded to judicial custody till 19th September by Judge Tan Ikram in London Westminster Court pic.twitter.com/Cov19lGkke — ANI (@ANI) August 22, 2019 × Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March. Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19. An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018. The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail.

London Westminster Court remands Nirav Modi to judicial custody till September 19

London's Westminster Court on Thursday extended the <a href="https://www.wionews.com/india-news/uk-court-extends-nirav-modis-remand-till-july-25-230888">custody of Fugitive diamantaire Nirav Modi </a>by August 22.

Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) <a href="https://www.wionews.com/india-news/nirav-modi-aides-to-pay-rs-7300-crore-with-interest-to-pnb-debt-recovery-tribunal-233529">fraud and money laundering case</a>.

The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March.

Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19.

An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018.

The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail.

&nbsp;

London's Westminster Court on Thursday extended the custody of Fugitive diamantaire Nirav Modi by August 22. Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case.

London's Westminster Court on Thursday extended the custody of Fugitive diamantaire Nirav Modi by August 22. Modi is wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case. The 48-year-old, who fights his extradition from Britain to India has been behind bars at Wandsworth prison in south-west London since his arrest in March. Modi was arrested by uniformed Scotland Yard officers on an extradition warrant on March 19. An arrest warrant was issued against him in May and then the second one in July last year, with an extradition request made to the UK authorities in August 2018. The UK High Court on June 12 rejected Modi's bail application, his fourth attempt to get bail.

UK court extends Nirav Modi's custody by August 22

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