Diamond merchant Nirav Modi, who is on an extradition trial by the Indian Government in the U.K. to face proceedings in the Punjab National Bank (PNB) fraud case in India, is all set to appear before a local court via video-link for his customary 28-day remand hearing on Thursday. He is likely to be informed of the dates for hearing in his extradition case. Nirav Modi, along with Mehul Choksi, the prime accused in the case, had been lodged at Wandsworth prison in Southwest London since their arrest in March this year. Modi will be represented at Westminster Magistrates’ Court in London by the UK’s Crown Prosecution Service (CPS).
According to the timeline discussed during the brief hearing, the judge at the UK Court expected to receive all the evidence and information in this case by April 8. Further, a five-day hearing is expected in May next year.
UK Court's Chief Magistrate Emma Arbuthnot had presided over Nirav Modi's last remand hearing via video link. During the hearing, she had indicated the dates for an estimated five-day trial in the Nirav Modi extradition case would be agreed by both the sides soon. Although, a number of case management hearings are likely to happen ahead. But, meanwhile, a planned case management hearing for next Monday was vacated as there was no need.
Modi has previously had his bail rejected multiple times, the fourth and final time being by the UK High Court last month.
The 48-year-old has previously had his bail plea rejected multiple times. The UK Court had rejected it for the fourth and final time last month. In the judgment held at the Royal Courts of Justice in London, Justice Ingrid Simler had concluded that there were substantial grounds to believe that Nirav Modi would fail to surrender as he does possess the means to abscond.
Fugitive diamond jeweller Nirav Modi along with his wife, brother, and uncle Mehul Choksi had allegedly acquired fraudulent letters of undertaking from one of the branches of Punjab National Bank in Mumbai. The scam was done for overseas credit from other Indian lenders. State-run PNB had revealed that fraudulent transactions of around Rs 11,400 crore (USD 2 billion) was done, and had filed a complaint with the enforcement agencies. Nirav Modi and his family has been absconding since 2018, a few days ago the scam broke out.