Tag: UK court

DOUBLE BLOW For Nirav Modi: UK Court Refuses To Grant Bail After Arrest, Judge Says He Has ‘Every Incentive’ to Not Surrender

 

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  • Nirav Modi will spend eight days in custody after being denied bail following his arrest in London
  • The judge said that there was substantial grounds to believe that he wouldn’t surrender if bail were granted
  • Nirav Modi has claimed that the charges against him are politically motivated

Nirav Modi has been dealt a second blow in the space of just two days – one that he will feel tangibly – as the UK court where he appeared following his arrest by London authorities has rejected the fugitive diamantaire’s bail application. As a result, Nirav Modi will remain in custody till March 29 when the next hearing will be held.

Tellingly, the judge, while rejecting the bail application, said that there was substantial grounds to believe that Nirav Modi would fail to surrender if he were granted bail.

 

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With Vijay Mallya’s lawyer Anand Doobay representing him in the court, Nirav Modi’s side’s argument was that the charges were politically motivated and that he had been cooperating with agencies. He refused to give consent for his extradition.

In terms of the specifics of his arguments, Nirav Modi put up a brazen defence, attempting to tell the court that he had only found out of the PNB scam when he attempted to get a Letter of Understanding (LoU) but was told that he couldn’t and it was illegal. The LoUs had served as the medium by which Nirav Modi had defrauded Indian banks to the tune of Rs 11,400 crore, by using the letters sanctioned by an errant PNB branch to claim massive loans from overseas branches of Indian banks.

Earlier on Wednesday, Republic TV had learnt that Nirav Modi had been arrested in London on account of the arrest warrant that had been issued against him by the Westminster Magistrates court following India’s efforts to extradite him. The London Metropolitan Police confirmed the arrest by issuing the following statement:

“Nirav Deepak Modi, 48 (Date of Birth 24.02.71), was arrested on behalf of the Indian Authorities on Tuesday, 19 March, in Holborn. He will appear in custody at Westminster Magistrates’ Court on Wednesday, 20 March.”

The developments come barely two weeks after Nirav Modi made his first appearance since the PNB bank scam broke out, being confronted by reporters during a walkabout in London. At that time, the diamantaire had remained brazen, something that was picked up on by Omar Abdullah following the arrest:

Omar Abdullah

✔@OmarAbdullah

It takes a special kind of hubris to roam around Oxford Street without a care in the world the way #NiravModi was. It’s no wonder it caught up with him.

Nirav Modi arrested in London, to appear in UK court shortly

 

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Nirav Modi and his uncle Mehul Choksi are the prime accused in the bank scam involving fake guarantees in the name of the state-run lender PNB.

Fugitive jeweler Nirav Modi is accused in the Rs. 13,000-crore PNB fraud case.

NEW DELHI/LONDON: Fugitive jeweler Nirav Modi, prime accused In the Rs. 13,000-crore PNB fraud case, has been arrested in in central London’s Holborn area. He is now being produced in court. On two different occasions, Nirav Modi was seen by the media in London after the UK put out an arrest warrant for him. Nirav Modi and his uncle Mehul Choksi are the prime accused  in the bank scam involving fake guarantees in the name of the state-run lender PNB to secure loans overseas. Both left India in January last year before the CBI started investigating the PNB scam.

Earlier this month, Nirav Modi was seen walking in London by a reporter of British newspaper The Telegraph. In a two-minute clip shared by the newspaper, the billionaire, was seen wearing a much-talked about expensive ostrich hide jacket, repeatedly said “no comments”.

Here are the LIVE updates on Nirav Modi’s arrest

Mar 20, 2019
16:15:15 (IST)

Enforcement Directorate statement on Nirav Modi

 
15:55:02 (IST)
Nirav Modi is now being produced in court
15:53:29 (IST)
CBI, ED team to fly to UK
A joint team of CBI and ED will fly to UK to assist the counsel who will be representing the agencies in Nirav Modi’s case. The next date of the hearing (start of the extradition proceedings in judicial side) will be announced by the UK Magistrate court today and accordingly the joint team will leave for UK.
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15:47:54 (IST)
The Enforcement Directorate gets permission from Prevention of Money Laundering Court in Mumbai to sell 173 paintings and 11 cars belonging to Nirav Modi. A non-bailable warrant has been against his wife Ami Modi, news agency ANI reports quoting sources.
15:38 (IST)
Union minister Hardeep Singh Puri on the arrest

You can run, but cannot hide from the country’s Chowkidar. As wheels of justice grind, after Vijay Mallya, fugitive Nirav Modi has been arrested in London. Clear sign that this is not the India which will allow economic offenders to loot the country & evade the long arm of law.

15:34:47 (IST)
PNB fraud of Rs 11, 400 crore is being investigated by two central agencies – the Central Bureau of Investigation and the Enforcement Directorate.”
15:29:22 (IST)

Omar Abdullah on Nirav Modi’s arrest

It’s amusing to see the BJP falling over itself to credit the PM with the Nirav Modi arrest while completely ignoring the fact that it was The Telegraph of London and it’s correspondent who found Nirav Modi, not the PM and his agencies.
15:28:10 (IST)

 

NDTV

✔@ndtv

#NiravModi, fugitive businessman, arrested in London https://www.ndtv.com/india-news/nirav-modi-fugitive-businessman-arrested-in-london-say-sources-2010369 …

15:25:18 (IST)
Police said Nirav Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London’s Westminster Magistrates Court on Wednesday, news agency Reuters reports.
15:22:02 (IST)
What Nirav Modi had told an anti-corruption court

Nirav Modi said had he has done nothing wrong. The alleged scam was a “civil transaction” that is being blown out of proportion, he said in his reply.

                                                
15:17:58 (IST)
UK police say fugitive billionaire Nirav Modi was arrested in London on Tuesday, news agency Reuters reports. 
15:55 (IST)
Nirav Modi is now being produced in court
15:53 (IST)
CBI, ED team to fly to UK
A joint team of CBI and ED will fly to UK to assist the counsel who will be representing the agencies in Nirav Modi’s case. The next date of the hearing (start of the extradition proceedings in judicial side) will be announced by the UK Magistrate court today and accordingly the joint team will leave for UK.
15:47 (IST)
The Enforcement Directorate gets permission from Prevention of Money Laundering Court in Mumbai to sell 173 paintings and 11 cars belonging to Nirav Modi. A non-bailable warrant has been against his wife Ami Modi, news agency ANI reports quoting sources.
15:38 (IST)
Union minister Hardeep Singh Puri on the arrest

You can run, but cannot hide from the country’s Chowkidar. As wheels of justice grind, after Vijay Mallya, fugitive Nirav Modi has been arrested in London. Clear sign that this is not the India which will allow economic offenders to loot the country & evade the long arm of law.

15:34 (IST)
PNB fraud of Rs. 11, 400 crore is being investigated by two central agencies – the Central Bureau of Investigation and the Enforcement Directorate.”
15:29 (IST)
                                          

Omar Abdullah on Nirav Modi’s arrest

It’s amusing to see the BJP falling over itself to credit the PM with the Nirav Modi arrest while completely ignoring the fact that it was The Telegraph of London and it’s correspondent who found Nirav Modi, not the PM and his agencies.
15:25 (IST)
Police said Nirav Modi, 48, had been arrested in the Holborn area of central London on Tuesday and was due to appear at London’s Westminster Magistrates Court on Wednesday, news agency Reuters reports.
15:22 (IST)
What Nirav Modi had told an anti-corruption court

Nirav Modi said had he has done nothing wrong. The alleged scam was a “civil transaction” that is being blown out of proportion, he said in his reply.

15:17 (IST)
UK police say fugitive billionaire Nirav Modi was arrested in London on Tuesday, news agency Reuters reports. 
15:15 (IST)
When fugitive diamond merchant Nirav Modi was spotted on the streets of London last week looking somewhat different and wearing an extravagant ostrich-leather jacket, the government insisted there had been no delay on India’s part in efforts to prosecute him and extradite him.”
15:13 (IST)
On Monday, a court in UK had issued an arrest warrant against the 48-year-old billionaire following the Enforcement Directorate’s request for his extradition.
                                        
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