By FnF Correspondent | PUBLISHED: 25, Feb 2021, 17:57 pm IST | UPDATED: 04, Mar 2021, 9:14 am IST
Nirav Modi is the subject of two sets of criminal proceedings, with the Central Bureau of Investigation case relating to a large-scale fraud upon Punjab National Bank by obtaining illegal letters of undertaking (LoUs) or loan agreements, and the Enforcement Directorate (ED) case relating to the laundering of the proceeds of that fraud.
Since his arrest, the fugitive diamond merchant has made six attempts to get bail, of which all got denied. Modi even approached the High Court but was denied bail again and was deemed a flight risk, his extradition case began in March 2019.
While appearing via video conferencing from Wandsworth Prison in south-west London at Westminster Magistrates' Court today, District Judge Samuel Goozee ruled that Nirav Modi conspired to destroy evidence and intimidate witnesses.
The court junked Modi's contention about poor mental health saying that we have seen the report given about the tendencies of suicide about Nirav Modi.
Calling the Indian Judiciary independent, the London judge said that there was no evidence to suggest that if extradited, Nirav Modi will not receive justice.
The court in the verdict read that India government has provided comprehensive assurance over Modi's arrest.
Non-bailable arrest warrants have been given by CBI, ED. Objections raised under section 3, section 6 and section 91. Nirav Modi, to be kept in Barrack number 12 in Arthur Road prison, will have the right to appeal in 14 days, but for that he will need the approval of the Secretary of State, the court said.
During the last hearing, CPS barrister Helen Malcolm told the court through video conferencing said, "while the defence claims this is a mere commercial dispute, there is a plethora of evidence to point to a ponzi-like scheme where new LoUs were used to repay old ones."
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