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Nirav Modi’s remand extended till July 25 by Westminster Magistrate’s Court

Wanted in India in connection with the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case, fugitive businessman Nirav Modi’s remand extended till July 25 by UK court. The 48-year-old, who is fighting his extradition from the UK to India, has been behind bars at Wandsworth prison in south-west London since his arrest in March. The UK High Court on June 12 rejected Modi’s bail application, his fourth attempt to get bail.
“The applicant has access to considerable financial resources, supported by an increased (bail bond security) offer of 2 million pounds,” the judge noted. The High Court judge stressed that while it was not for her to take a “definitive view” on the evidence, she had proceeded on the basis that the Government of India has acted in good faith in a serious case and a sophisticated international conspiracy to defraud, together with money laundering.

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