Nirav Modi Denied Bail for 10th Time as Indian Agencies Close In on Financial Fugitives
In yet another legal setback for fugitive diamond merchant Nirav Modi, the High Court of Justice, King’s Bench Division in London, has once again rejected his bail plea—his tenth attempt since his arrest in 2019. Modi, wanted in India for orchestrating a massive banking scam, remains behind bars in the UK as legal proceedings continue to tighten around him.
The Crown Prosecution Service (CPS), representing the Indian government, firmly opposed the plea. Their case was bolstered by a delegation of senior Central Bureau of Investigation (CBI) officials who flew to London specifically for the high-profile hearing. Their presence underscored the gravity of the case, and their arguments played a decisive role in securing yet another denial of bail.
Modi stands accused of pulling off one of India’s biggest banking frauds, involving a staggering ₹6,498.20 crore siphoned off from Punjab National Bank (PNB) through fraudulent Letters of Undertaking (LOUs). His operations allegedly involved a complex web of shell companies, overseas transactions, and false guarantees.
His extradition to India was previously approved by a UK court, marking a major win for Indian authorities, yet his legal team continues to fight back with repeated bail applications—all of which have been systematically denied.
Alongside Modi, his uncle Mehul Choksi is also a key accused in the multi-crore scam. Choksi is believed to have defrauded Indian lenders of over ₹7,000 crore. While Modi remains in custody in the UK, Choksi is facing separate legal heat in Belgium, where he was recently detained by authorities.
In a significant development, a court in Antwerp is expected to begin hearing India’s extradition request for Choksi on Friday, May 16. Belgian officials have already denied his initial bail request, and Indian investigative agencies have submitted fresh evidence to strengthen their case.
With judicial wheels turning in both the UK and Belgium, Indian officials remain hopeful that both Modi and Choksi will soon be extradited to face justice in India. The ongoing legal victories are being seen as a testament to the global collaboration between Indian and foreign law enforcement agencies in tracking down economic fugitives.
