Nirav Modi's bail plea rejected, to remain in custody till March 29

Nirav Modi Arrest Teller Tipped Off Police When PNB Fraud Accused Went to Open Bank Account

Nirav Modi Arrest Teller Tipped Off Police When PNB Fraud Accused Went to Open Bank Account

Both are accused in the Rs 13,500 crore PNB scam. Nirav Modi continues to figure in Interpol's wanted list on its website.

Extraditing Modi, and other tycoons including Vijay Mallya, a colourful beer baron who now lives in London after an airline he owned defaulted on US$1.3 billion in loans, is becoming an election issue for Prime Minister Narendra Modi, who's no relation to Nirav.

The legal process to extradite Nirav will be identical to that pursued in the case of Mallya - a court hearing followed by appeals.

According to informed sources, the Westminster court in its lengthy hearing observed that Nirav Modi should be kept in Metropolitan Police custody due to his involvement in fraud of high value funds and access to means of escape.

Modi, dressed in a plain white shirt and pants, appeared in the dock where he spoke only to confirm his name and also to formally decline consent to be extradited to India.

Furthermore, Modi will stay in custody till March 29.

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I wasn't just a leader of the group trying to pump someone's tyres up to make them play well and give them confidence. They have done their time. "It's good to have him back as a Rajasthan Royals player", India vice-captain Rahane said.

District Judge Marie Mallon said there were substantial grounds to believe he might not surrender to bail and no conditions would satisfy her to grant his release. He denies wrongdoing and says the charges against him are politically motivated.

Modi was arrested by uniformed officers on March 19, when he had visited a Metro Bank branch in London to open a new account.

The son of a diamond merchant, Modi built an global jewellery empire that stretched from India to NY and Hong Kong.

Nirav Modi, who fled India in January 2018, has been living at an apartment in London's West End, British newspaper The Telegraph had reported earlier this month.

Meanwhile, a Mumbai court has issued a non-bailable warrant against Modi's wife Amy whose last known location was in the US.

"The allegations in India arose in an unusual way leading him to engage lawyers in the United Kingdom, who have been in contact with the extradition squad of Scotland Yard since February 2018", Scott said, adding that his legal team has since repeatedly informed the United Kingdom authorities that he is?keen to fully cooperate in any extradition matters.

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