London: In a major setback to fugitive diamantaire Nirav Modi, a UK court on Monday again rejected his bail plea.
Last month, the UK court extended the remand of the diamantaire till the next scheduled hearing in his ongoing extradition trial on November 3.
The CBI and ED, seeking Nirav Modi's extradition to India, are being represented by the Crown Prosecution Service in the UK. The fugitive businessman has applied for political asylum in the UK after he was denied bail five times.
Read also: Nirav Modi's immediate extradition not possible
In July this year, the ED confiscated the fugitive diamantaire's properties worth Rs 329.66 crore in Mumbai, Rajasthan, the United Arab Emirates (UAE) and the UK. The movable and immovable assets were seized under the Fugitive Economic Offenders Act, 2018.
The assets included four flats at Samudra Mahal, the iconic building in south Mumbai's Worli, a seaside farmhouse and land in Alibaug, a wind mill in Jaisalmer, a flat in London, some flats in the UAE, shares and bank deposits. On December 5, 2019, the court declared him a fugitive economic offender.
Read also: Arrest of Nirav Modi is a drama, says Harish Rawat
Modi and his uncle Mehul Choksi of the Geetanjali Group are being investigated by the two agencies after the PNB alleged that they cheated it of Rs 13,500 crore with the involvement of some bank employees.
The ED has filed a charge sheet against Choksi in a Prevention of Money Laundering Act Court in Mumbai.
India is currently making efforts to extradite Nirav Modi from the UK and his uncle Choksi from Antigua and Barbuda where he is now a citizen.
IANS
