London High Court Rejects Nirav Modi's 10th Bail Plea in PNB Fraud Case

The London High Court dismissed Nirav Modi's latest bid for bail on Thursday, citing concerns over his potential flight risk and influence over witnesses. Modi, charged in a colossal fraud case involving Rs 13,000 crore siphoned from Punjab National Bank, remains incarcerated in the UK as extradition proceedings continue.

The 54-year-old diamantaire has been fighting extradition to India, where he faces multiple charges, including fraud and witness tampering. Despite frequent health and time-related arguments made by his legal team, Judge Michael Fordham ruled against his release, emphasizing Modi's access to significant resources that could thwart justice.

Nirav Modi's legal saga carries on, with the High Court's ruling marking his 10th unsuccessful bail attempt since being jailed in 2019. The case spotlighted grave allegations of financial misdeeds orchestrated alongside his uncle Mehul Choksi, both accused of securing fraudulent bank guarantees to accumulate vast sums illegally.

(With inputs from agencies.)