Fugitive businessman Nirav Modi’s bail has been rejected for the third time by UK court

 

The fugitive businessman Nirav Modi bail has been rejected by the London Court. It is the third time the bail has been denied.

The hearing ended with the judge further remanding Modi till May 24. Further hearing was held on May 30.

Nirav Modi has been undergoing extradition proceedings in the UK in the USD billion Punjab National Bank money laundering case.

The 48 years old had been behind the bars at Wandsworth prison in the South-West London since his arrest last month.

Modi’s bail was rejected by Chief Magistrate Arbuthnot on March 29 on the grounds that there was a “substantial risk he would fail to surrender”.

He was arrested by uniformed Scotland Yard officers from a Metro Bank branch in central London as he attempted to open a new bank account on March 19.