PNB scam case: Nirav Modi's bail plea rejected by London court for 10th time

A court in the United Kingdom has again rejected a bail plea filed by Nirav Modi, a fugitive diamond merchant wanted in the Rs 6,000 crore Punjab National Bank scam case.

"Fresh bail petition filed by Nirav Deepak Modi was rejected today by the High Court of Justice, King's Bench Division, London. The bail arguments were strongly opposed by the Crown Prosecution Service advocate who was ably assisted by a strong CBI team consisting of investigating and law officers who travelled to London for this purpose," CBI said.

"CBI could successfully defend the arguments which resulted in the rejection of the bail. Neerav Deepak Modi is in a UK prison since 19th March 2019. It may be recalled that Neerav Modi is a fugitive economic offender who is wanted for Trial in India in a Bank fraud case by the CBI for defrauding Punjab National Bank for Rs. 6498.20 crore," it added.

His extradition has already been approved by the High Court of the UK in favour of the Government of India. This is his 10th bail petition since his detention in UK, which was successfully defended by CBI through the Crown Prosecution Service,



London.

In 2002, the UK High Court in 2022 approved the extradition of Nirav Modi to India, where he is set to face charges related to one of the country’s largest banking scams.

Modi, 55, fled India in January 2018, just weeks before the multi-crore scam came to light. He has been held in a UK prison since March 2019, fighting extradition while denying all allegations. He is accused of embezzling ₹6,498.20 crore as part of a larger ₹13,000 crore fraud involving fraudulent letters of undertaking issued by PNB.

In a related development, Modi’s uncle and co-accused Mehul Choksi—who also fled India in early 2018—was arrested in Belgium last month. Choksi is similarly accused of a key role in the PNB scam, but continues to deny any wrongdoing.

Both Modi and Choksi face multiple charges in India, including criminal conspiracy, cheating, money laundering, and corruption, under various Indian laws including the Prevention of Money Laundering Act (PMLA).

The extradition process marks a major step in India’s efforts to bring high-profile economic offenders back to face justice.