PNB scam accused Nirav Modi produced in UK court, bail hearing underway

WION Web Team London, UK Mar 29, 2019, 03.17 PM(IST)

File photo: Nirav Modi. Photograph:( AP )

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Nirav's bail plea was denied by the UK court last week after the judge found his case "too risky". 

Fugitive businessman Nirav Modi, 48, was produced in London's Westminster Magistrate court on Friday for bail hearing as India made extradition for the PNB bank fraud accused.

A joint team of Central Bureau of Investigation and Enforcement Directorate officials arrived in London to oppose Nirav's bail. The team is headed by Joint Director and rank officers from Enforcement Directorate and Central Bureau of Investigation.

The Crown Prosecution Service (CPS), on behalf of Indian authorities, submitted the additional file of evidence in court.
"It's a big file with only a few papers," said Chief Magistrate Emma Arbuthnot, on being handed the file by CPS barrister Toby Cadman.

Arbuthnot is the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December. 
The defence is deliberating over that new file.

Toby Cadman, representing the crown prosecution on behalf of the Indian authorities in London's Westminster Magistrate court, said: "In case Nirav Modi gets bail, we will appeal against it in the High Court. We will do everything to keep him in."

Nirav Modi had fled India last year after authorities uncovered the $2 billion loan default scam in Mumbai's Punjab and National Bank(PNB). India had revoked his passport and made two extradition requests to the UK, one from the CBI and the other from the Enforcement Directorate(ED).

Nirav's bail plea was denied by the UK court last week after the judge found his case "too risky". 

Nirav Modi's counsel, George Hepburne, said that the case had a political motivation and that the conditions of Indian jails are not good. This was rejected by the judge.

He was arrested on March 19th from London's Holborn area. A bank clerk reportedly recognised him and called the police after which he was arrested.

India had approached Interpol regarding Nirav and in July of 2018, a red corner notice(RCN) was issued against him.