LONDON: Diamond tycoon Nirav Modi suffered another legal setback as the UK High Court on May 15 rejected his 10th bail application, citing a high risk of absconding and the seriousness of the charges he faces in India.
The ruling was delivered by Justice Michael Fordham at the Royal Courts of Justice in London. He emphasized that the case against Modi remains backed by substantial evidence, affirming the previous decisions of UK courts. “UK courts have twice concluded that there is an evidenced prima facie case against the applicant,” Justice Fordham stated in his judgment.
Modi is the prime accused in the Rs 13,800 crore Punjab National Bank (PNB) fraud, one of India’s largest banking scams. The charges against him include fraud, money laundering, and criminal conspiracy, which UK authorities describe as of “very great seriousness and substance.”
The court expressed concerns that Modi, if released, could potentially flee the country, complicating ongoing extradition proceedings initiated by Indian authorities. His continued detention is considered necessary to ensure he does not evade justice.
The Indian government has been pursuing Modi's extradition since 2019, following his arrest in London based on India’s request. Since then, Modi has remained in Wandsworth Prison, one of the UK’s most secure facilities.
With the latest rejection, Modi’s legal options are narrowing, although he may still attempt to approach higher courts of appeal mechanisms. The case remains a high-profile symbol of India’s crackdown on economic offenders, as authorities aim to bring him back to face trial.
